General Electric (NYSE:GE) Issues FY24 Earnings Guidance

by · The Cerbat Gem

General Electric (NYSE:GE – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.20-4.35 for the period, compared to the consensus earnings per share estimate of $4.24. General Electric also updated its FY 2024 guidance to 4.200-4.350 EPS.

General Electric Price Performance

Shares of NYSE:GE opened at $179.64 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market cap of $196.64 billion, a price-to-earnings ratio of 58.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a 50-day simple moving average of $179.51 and a two-hundred day simple moving average of $168.15. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Get Our Latest Analysis on General Electric

About General Electric

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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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