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

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. JPMorgan Chase & Co. cut their target price on shares of General Electric from $180.00 to $148.00 and set an overweight rating for the company in a research note on Tuesday, April 2nd. TheStreet upgraded shares of General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. Royal Bank of Canada raised their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Bank of America cut their target price on shares of General Electric from $175.00 to $165.00 and set a buy rating for the company in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $162.64.

General Electric Stock Down 3.2 %

GE traded down $5.14 during trading on Wednesday, hitting $157.48. 6,198,002 shares of the company’s stock were exchanged, compared to its average volume of 8,112,437. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $159.94 and its two-hundred day moving average is $135.39. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65. The stock has a market cap of $172.17 billion, a P/E ratio of 18.78, a PEG ratio of 2.96 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 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on 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 $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on 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 owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 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.