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General Electric (GE) Stock Moves -0.79%: What You Should Know
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General Electric (GE - Free Report) closed at $69.97 in the latest trading session, marking a -0.79% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the industrial conglomerate had gained 8.14% in the past month. In that same time, the Conglomerates sector lost 3.24%, while the S&P 500 lost 5.13%.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be October 25, 2022. In that report, analysts expect General Electric to post earnings of $0.47 per share. This would mark a year-over-year decline of 17.54%. Our most recent consensus estimate is calling for quarterly revenue of $19.04 billion, up 3.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $75.77 billion, which would represent changes of +26.89% and +2.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for General Electric. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.83% lower. General Electric currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, General Electric is holding a Forward P/E ratio of 26.25. This valuation marks a premium compared to its industry's average Forward P/E of 15.24.
Also, we should mention that GE has a PEG ratio of 3.75. 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. The Diversified Operations industry currently had an average PEG ratio of 1.69 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.
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General Electric (GE) Stock Moves -0.79%: What You Should Know
General Electric (GE - Free Report) closed at $69.97 in the latest trading session, marking a -0.79% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the industrial conglomerate had gained 8.14% in the past month. In that same time, the Conglomerates sector lost 3.24%, while the S&P 500 lost 5.13%.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be October 25, 2022. In that report, analysts expect General Electric to post earnings of $0.47 per share. This would mark a year-over-year decline of 17.54%. Our most recent consensus estimate is calling for quarterly revenue of $19.04 billion, up 3.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $75.77 billion, which would represent changes of +26.89% and +2.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for General Electric. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.83% lower. General Electric currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, General Electric is holding a Forward P/E ratio of 26.25. This valuation marks a premium compared to its industry's average Forward P/E of 15.24.
Also, we should mention that GE has a PEG ratio of 3.75. 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. The Diversified Operations industry currently had an average PEG ratio of 1.69 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.