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

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 4.200-4.350 for the period, compared to the consensus estimate of 4.250. The company issued revenue guidance of -. General Electric also updated its FY24 guidance to $4.20-4.35 EPS.

General Electric Stock Performance

NYSE:GE traded down $0.75 during trading hours on Thursday, reaching $180.94. 268,014 shares of the stock were exchanged, compared to its average volume of 6,358,742. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $179.51 and a 200-day simple moving average of $168.15. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The stock has a market capitalization of $198.06 billion, a P/E ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. As a group, sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.