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General Electric (GE) Stock Moves -0.15%: What You Should Know
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General Electric (GE - Free Report) closed the most recent trading day at $67.44, moving -0.15% from the previous trading session. This change was narrower than the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the industrial conglomerate had lost 6.4% over the past month, lagging the Conglomerates sector's loss of 2.15% and the S&P 500's loss of 3.29% in that time.
General Electric will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.51, down 10.53% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.04 billion, up 3.29% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $2.74 per share and revenue of $75.89 billion. These results would represent year-over-year changes of +29.25% and +2.38%, respectively.
Investors should also note any recent changes to analyst estimates for General Electric. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. General Electric is currently a Zacks Rank #3 (Hold).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 24.68. This represents a premium compared to its industry's average Forward P/E of 15.75.
Also, we should mention that GE has a PEG ratio of 3.53. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.61 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 81, which puts it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Electric (GE) Stock Moves -0.15%: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $67.44, moving -0.15% from the previous trading session. This change was narrower than the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the industrial conglomerate had lost 6.4% over the past month, lagging the Conglomerates sector's loss of 2.15% and the S&P 500's loss of 3.29% in that time.
General Electric will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.51, down 10.53% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.04 billion, up 3.29% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $2.74 per share and revenue of $75.89 billion. These results would represent year-over-year changes of +29.25% and +2.38%, respectively.
Investors should also note any recent changes to analyst estimates for General Electric. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. General Electric is currently a Zacks Rank #3 (Hold).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 24.68. This represents a premium compared to its industry's average Forward P/E of 15.75.
Also, we should mention that GE has a PEG ratio of 3.53. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.61 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 81, which puts it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.