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General Electric (GE) Gains As Market Dips: What You Should Know
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General Electric (GE - Free Report) closed the most recent trading day at $11.11, moving +0.36% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the industrial conglomerate had gained 3.94% over the past month, outpacing the Conglomerates sector's gain of 0.64% and lagging the S&P 500's gain of 4.43% in that time.
Investors will be hoping for strength from GE as it approaches its next earnings release, which is expected to be January 26, 2021. The company is expected to report EPS of $0.08, down 61.9% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.27 billion, down 18.92% from the year-ago period.
Investors might also notice recent changes to analyst estimates for GE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.59% higher within the past month. GE currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GE is currently trading at a Forward P/E ratio of 34.73. This valuation marks a premium compared to its industry's average Forward P/E of 18.53.
Investors should also note that GE has a PEG ratio of 7.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Electric (GE) Gains As Market Dips: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $11.11, moving +0.36% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the industrial conglomerate had gained 3.94% over the past month, outpacing the Conglomerates sector's gain of 0.64% and lagging the S&P 500's gain of 4.43% in that time.
Investors will be hoping for strength from GE as it approaches its next earnings release, which is expected to be January 26, 2021. The company is expected to report EPS of $0.08, down 61.9% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.27 billion, down 18.92% from the year-ago period.
Investors might also notice recent changes to analyst estimates for GE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.59% higher within the past month. GE currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GE is currently trading at a Forward P/E ratio of 34.73. This valuation marks a premium compared to its industry's average Forward P/E of 18.53.
Investors should also note that GE has a PEG ratio of 7.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.