G. Research Analysts Improve General Electric Profit Estimates (NYSE: GE)
General Electric (NYSE: GE) – G. Research increased its estimate of earnings per share for fiscal 2024 for shares of General Electric in a note to investors on Thursday, June 10. G.Research analyst J. Bergner now predicts the conglomerate will earn $ 0.85 per share for the year, up from its previous estimate of $ 0.84. General Electric (NYSE: GE) last reported its quarterly results on Monday, April 26. The conglomerate reported EPS of $ 0.03 for the quarter, beating the Zacks’ consensus estimate of $ 0.01 by $ 0.02. The company posted revenue of $ 17.12 billion in the quarter, compared to a consensus estimate of $ 17.66 billion. General Electric posted a negative net margin of 4.33% and a positive return on equity of 1.53%. General Electric’s quarterly revenue was down 16.6% year-on-year. In the same quarter of the previous year, the company achieved EPS of $ 0.05.
Other stock analysts have also recently published reports on the company. Bank of America reissued a “buy” note and set a target price of $ 15.00 on General Electric shares in a research note on Monday, March 15. The Goldman Sachs group set a price target of $ 15.00 on General Electric and gave the company a “buy” rating in a report released on Wednesday, March 17. Morgan Stanley raised its price target for General Electric shares from $ 13.00 to $ 17.00 and rated the stock “overweight” in a research note on Thursday, March 4. UBS Group raised its price target on General Electric shares from $ 15.00 to $ 17.00 and gave the company a “buy” rating in a report released on Friday, April 9. Finally, Oppenheimer reaffirmed a “market performance” rating on General Electric shares in a research report on Wednesday, March 17. Seven analysts gave the stock a conservation rating and nine gave the company a buy rating. The stock currently has a consensus rating of “Buy” and a consensus price target of $ 14.60.
NYSE GE opened at $ 13.63 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.96, and a debt ratio of 1.90. The stock has a market cap of $ 119.65 billion, a PE ratio of -29.63, a P / E / G ratio of 12.71 and a beta of 1.06. General Electric has a 52-week low of $ 5.93 and a 52-week high of $ 14.41. The company’s 50-day moving average price is $ 13.45.
Hedge funds recently changed their positions in the title. Exchange Traded Concepts LLC acquired a new equity stake in General Electric during the 1st quarter valued at approximately $ 28,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in General Electric shares by 251.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,100 shares of the conglomerate valued at $ 28,000 after purchasing 1,503 additional shares during the period. TD Ameritrade Investment Management LLC purchased a new stake in General Electric in the fourth quarter valued at approximately $ 31,000. Childress Capital Advisors LLC acquired a new position in General Electric in the 4th quarter valued at $ 35,000. Finally, Inspire Advisors LLC bought a new position in General Electric shares during the 4th quarter for $ 38,000. 63.41% of the shares are held by hedge funds and other institutional investors.
General Electric Company Profile
General Electric Company operates as a high-tech industrial enterprise around the world. The Company’s Energy segment offers heavy-duty, aero-derived gas turbines for utilities, independent power producers and industrial applications; maintenance, service and upgrade solutions for plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines and air quality control systems; and advanced reactor technology solutions including reactors, fuels and support services for boiling water reactors.
Featured article: Trading stops
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured article: What is a futures contract?
7 actions to watch out for when student debt forgiveness is exceeded
Now that the Biden administration is fully in the driver’s seat, student debt cancellation has come to the fore. Consider these numbers. Student debt is estimated at $ 1.7 trillion. The average student has about $ 30,000 in student loans.
If $ 10,000 in student debt were forgiven, it is estimated that one-third of borrowers (between $ 15 million and $ 16.3 million) would become debt-free. Of course, if the number reaches $ 50,000, as some lawmakers suggest, the impact would be even greater.
By setting aside personal reflections on the wisdom of pursuing this path, it has the potential to trigger a substantial stimulus in the economy.
And as an investor, it’s fair to ask where this money would go. After all, there is nothing wrong with investors taking advantage of this stimulus as well.
A counter-argument is that the absence of a monthly payment may not provide enough money to have an impact. However, Senator Elizabeth Warren spoke about the effect student loans have in preventing many Millennials and Gen Z from pursuing broad life goals such as buying a home, creating of a business or the creation of a family.
With that in mind, we’ve prepared this special presentation that looks at 7 actions that could benefit if borrowers are freed from the burden of student loans.
Check out the “7 Actions to Watch Out For When Student Debt Remission Is Over.”