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General Electric (GE) Gains But Lags Market: What You Should Know
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In the latest trading session, General Electric (GE - Free Report) closed at $77.68, marking a +1.07% move from the previous day. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the industrial conglomerate had lost 6% in the past month. In that same time, the Conglomerates sector gained 4.1%, while the S&P 500 gained 2.3%.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be January 24, 2023. The company is expected to report EPS of $1.10, up 19.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.94 billion, up 8.05% from the year-ago period.
Investors might also notice 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.
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.
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 9.91% lower. General Electric currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, General Electric currently has a Forward P/E ratio of 20. This valuation marks a premium compared to its industry's average Forward P/E of 12.74.
Also, we should mention that GE has a PEG ratio of 2.86. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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General Electric (GE) Gains But Lags Market: What You Should Know
In the latest trading session, General Electric (GE - Free Report) closed at $77.68, marking a +1.07% move from the previous day. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the industrial conglomerate had lost 6% in the past month. In that same time, the Conglomerates sector gained 4.1%, while the S&P 500 gained 2.3%.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be January 24, 2023. The company is expected to report EPS of $1.10, up 19.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.94 billion, up 8.05% from the year-ago period.
Investors might also notice 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.
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.
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 9.91% lower. General Electric currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, General Electric currently has a Forward P/E ratio of 20. This valuation marks a premium compared to its industry's average Forward P/E of 12.74.
Also, we should mention that GE has a PEG ratio of 2.86. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.