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General Electric (GE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, General Electric (GE - Free Report) closed at $91.40, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.64%.
Prior to today's trading, shares of the industrial conglomerate had lost 3.16% over the past month. This has lagged the Conglomerates sector's loss of 2.72% and the S&P 500's gain of 0.17% in that time.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be April 26, 2022. On that day, General Electric is projected to report earnings of $0.20 per share, which would represent a year-over-year decline of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $17.2 billion, up 0.47% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $3.17 per share and revenue of $77.45 billion. These results would represent year-over-year changes of +49.53% and +4.48%, respectively.
It is also important to note the recent changes to analyst estimates for General Electric. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.92% lower. General Electric currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 29.03 right now. This represents a premium compared to its industry's average Forward P/E of 17.06.
Meanwhile, GE's PEG ratio is currently 4.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.31 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, General Electric (GE - Free Report) closed at $91.40, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.64%.
Prior to today's trading, shares of the industrial conglomerate had lost 3.16% over the past month. This has lagged the Conglomerates sector's loss of 2.72% and the S&P 500's gain of 0.17% in that time.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be April 26, 2022. On that day, General Electric is projected to report earnings of $0.20 per share, which would represent a year-over-year decline of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $17.2 billion, up 0.47% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $3.17 per share and revenue of $77.45 billion. These results would represent year-over-year changes of +49.53% and +4.48%, respectively.
It is also important to note the recent changes to analyst estimates for General Electric. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.92% lower. General Electric currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 29.03 right now. This represents a premium compared to its industry's average Forward P/E of 17.06.
Meanwhile, GE's PEG ratio is currently 4.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.31 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.