General Electric (NYSE:GE) Releases FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GE shares. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Trading Up 0.9 %

Shares of General Electric stock opened at $194.35 on Tuesday. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The stock has a market cap of $212.74 billion, a PE ratio of 63.72, a PEG ratio of 1.86 and a beta of 1.18. The firm has a 50-day moving average of $179.06 and a 200-day moving average of $167.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s payout ratio is 36.72%.

General Electric Company Profile

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.