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General Electric (GE) Dips More Than Broader Markets: What You Should Know
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General Electric (GE - Free Report) closed at $89.76 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq added 2.77%.
Prior to today's trading, shares of the industrial conglomerate had gained 9.13% over the past month. This has outpaced the Conglomerates sector's loss of 2.33% and the S&P 500's loss of 5.06% in that time.
General Electric will be looking to display strength as it nears its next earnings release. On that day, General Electric is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $13.36 billion, down 21.62% from the prior-year quarter.
GE's full-year Zacks Consensus Estimates are calling for earnings of $1.97 per share and revenue of $61.54 billion. These results would represent year-over-year changes of -24.81% and -19.62%, respectively.
It is also important to note the recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.94% higher. General Electric currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 46.31 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.88.
It is also worth noting that GE currently has a PEG ratio of 6.62. 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 1.46 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Electric (GE) Dips More Than Broader Markets: What You Should Know
General Electric (GE - Free Report) closed at $89.76 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq added 2.77%.
Prior to today's trading, shares of the industrial conglomerate had gained 9.13% over the past month. This has outpaced the Conglomerates sector's loss of 2.33% and the S&P 500's loss of 5.06% in that time.
General Electric will be looking to display strength as it nears its next earnings release. On that day, General Electric is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $13.36 billion, down 21.62% from the prior-year quarter.
GE's full-year Zacks Consensus Estimates are calling for earnings of $1.97 per share and revenue of $61.54 billion. These results would represent year-over-year changes of -24.81% and -19.62%, respectively.
It is also important to note the recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.94% higher. General Electric currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 46.31 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.88.
It is also worth noting that GE currently has a PEG ratio of 6.62. 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 1.46 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.