General Electric (GE) Set to Announce Quarterly Earnings on Tuesday

General Electric (NYSE:GE) is set to announce its earnings results before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $1.11 per share for the quarter. General Electric has set its FY24 guidance at $3.95-4.20 EPS and its FY 2024 guidance at 3.950-4.200 EPS.Investors interested in registering for the company’s conference call can do so using this link.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts expect General Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

General Electric Price Performance

Shares of General Electric stock opened at $192.63 on Tuesday. General Electric has a one year low of $84.42 and a one year high of $193.93. The stock’s fifty day moving average is $176.30 and its 200 day moving average is $166.63. The stock has a market cap of $210.85 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.