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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 $63.68, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the industrial conglomerate had lost 4.76% over the past month, outpacing the Conglomerates sector's loss of 5% and lagging the S&P 500's gain of 2.02% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be July 26, 2022. The company is expected to report EPS of $0.37, down 7.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.96 billion, down 1.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.81 per share and revenue of $76.36 billion. These totals would mark changes of +32.55% and +3.01%, respectively, from last year.
Any recent changes to analyst estimates for General Electric should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.35% lower. General Electric is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 22.37. This represents a premium compared to its industry's average Forward P/E of 14.89.
Investors should also note that GE has a PEG ratio of 3.2 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GE's industry had an average PEG ratio of 1.46 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% 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.
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 $63.68, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the industrial conglomerate had lost 4.76% over the past month, outpacing the Conglomerates sector's loss of 5% and lagging the S&P 500's gain of 2.02% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be July 26, 2022. The company is expected to report EPS of $0.37, down 7.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.96 billion, down 1.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.81 per share and revenue of $76.36 billion. These totals would mark changes of +32.55% and +3.01%, respectively, from last year.
Any recent changes to analyst estimates for General Electric should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.35% lower. General Electric is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 22.37. This represents a premium compared to its industry's average Forward P/E of 14.89.
Investors should also note that GE has a PEG ratio of 3.2 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GE's industry had an average PEG ratio of 1.46 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.