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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 $105.73, moving +0.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.04%.
Prior to today's trading, shares of the industrial conglomerate had gained 0.15% over the past month. This has outpaced the Conglomerates sector's loss of 3.37% and the S&P 500's loss of 1.36% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. In that report, analysts expect GE to post earnings of $0.53 per share. This would mark year-over-year growth of 10.42%. Our most recent consensus estimate is calling for quarterly revenue of $19.34 billion, down 0.39% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $77.14 billion. These results would represent year-over-year changes of +2387.5% and -3.12%, respectively.
It is also important to note the recent changes to analyst estimates for GE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GE is currently a Zacks Rank #3 (Hold).
Looking at its valuation, GE is holding a Forward P/E ratio of 53.03. Its industry sports an average Forward P/E of 20.21, so we one might conclude that GE is trading at a premium comparatively.
We can also see that GE currently has a PEG ratio of 9.94. 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 industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $105.73, moving +0.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.04%.
Prior to today's trading, shares of the industrial conglomerate had gained 0.15% over the past month. This has outpaced the Conglomerates sector's loss of 3.37% and the S&P 500's loss of 1.36% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. In that report, analysts expect GE to post earnings of $0.53 per share. This would mark year-over-year growth of 10.42%. Our most recent consensus estimate is calling for quarterly revenue of $19.34 billion, down 0.39% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $77.14 billion. These results would represent year-over-year changes of +2387.5% and -3.12%, respectively.
It is also important to note the recent changes to analyst estimates for GE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GE is currently a Zacks Rank #3 (Hold).
Looking at its valuation, GE is holding a Forward P/E ratio of 53.03. Its industry sports an average Forward P/E of 20.21, so we one might conclude that GE is trading at a premium comparatively.
We can also see that GE currently has a PEG ratio of 9.94. 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 industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.