General Electric (NYSE:GE) Releases FY 2024 Earnings Guidance

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.800-4.050 for the period, compared to the consensus EPS estimate of 3.950. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Jefferies Financial Group dropped their target price on shares of General Electric from $195.00 to $180.00 and set a buy rating on the stock in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $210.00 to $190.00 and set a buy rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada increased their target price on General Electric from $165.00 to $175.00 and gave the company an outperform rating in a report on Wednesday. JPMorgan Chase & Co. cut their price target on General Electric from $180.00 to $148.00 and set an overweight rating for the company in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $170.00.

General Electric Price Performance

Shares of GE traded up $2.07 during mid-day trading on Thursday, hitting $161.26. 5,515,880 shares of the stock were exchanged, compared to its average volume of 8,135,719. The firm has a 50-day moving average of $160.45 and a two-hundred day moving average of $135.73. General Electric has a 52-week low of $76.87 and a 52-week high of $163.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17. The company has a market cap of $176.30 billion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the business earned $0.27 earnings per share. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About General Electric

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.