General Electric (NYSE:GE – Get Free Report) announced its quarterly earnings results on Tuesday. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company posted $0.82 earnings per share. General Electric’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 Down 9.0 %
Shares of General Electric stock opened at $176.66 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The business’s fifty day moving average price is $179.24 and its two-hundred day moving average price is $168.05. The company has a market capitalization of $193.37 billion, a P/E ratio of 57.90, a PEG ratio of 1.86 and a beta of 1.18.
General Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on GE
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.
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