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General Electric (GE) Stock Sinks As Market Gains: What You Should Know
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General Electric (GE - Free Report) closed at $93.60 in the latest trading session, marking a -0.69% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Heading into today, shares of the industrial conglomerate had gained 8.36% over the past month, outpacing the Conglomerates sector's loss of 2.19% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect General Electric to post earnings of $0.12 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $61.68 billion, which would represent changes of -24.43% and -19.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. General Electric is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 47.66 right now. This represents a premium compared to its industry's average Forward P/E of 16.79.
Also, we should mention that GE has a PEG ratio of 6.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 1.5 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.
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General Electric (GE) Stock Sinks As Market Gains: What You Should Know
General Electric (GE - Free Report) closed at $93.60 in the latest trading session, marking a -0.69% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Heading into today, shares of the industrial conglomerate had gained 8.36% over the past month, outpacing the Conglomerates sector's loss of 2.19% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect General Electric to post earnings of $0.12 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $61.68 billion, which would represent changes of -24.43% and -19.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. General Electric is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 47.66 right now. This represents a premium compared to its industry's average Forward P/E of 16.79.
Also, we should mention that GE has a PEG ratio of 6.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 1.5 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.