General Electric (NYSE:GE) Issues Earnings Results, Beats Estimates By $0.02 EPS

General Electric (NYSE:GE) issued its quarterly earnings data on Tuesday. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02, Briefing.com reports. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. General Electric updated its FY 2024 guidance to 4.200-4.350 EPS and its FY24 guidance to $4.20-4.35 EPS.

General Electric Stock Performance

NYSE:GE opened at $176.59 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The company has a fifty day moving average of $179.24 and a 200-day moving average of $168.05. The firm has a market capitalization of $193.30 billion, a P/E ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GE. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Citigroup upped their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.53.

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.