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General Electric (GE) Gains As Market Dips: What You Should Know
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In the latest trading session, General Electric (GE - Free Report) closed at $84.98, marking a +1.42% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Heading into today, shares of the industrial conglomerate had lost 1.03% over the past month, outpacing the Conglomerates sector's loss of 3.55% and the S&P 500's loss of 5.57% in that time.
General Electric will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2023. The company is expected to report EPS of $1.12, up 21.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.88 billion, up 7.79% from the year-ago period.
Any recent changes to analyst estimates for General Electric should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 33.02 right now. This represents a premium compared to its industry's average Forward P/E of 14.46.
Also, we should mention that GE has a PEG ratio of 4.72. 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. GE's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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General Electric (GE) Gains As Market Dips: What You Should Know
In the latest trading session, General Electric (GE - Free Report) closed at $84.98, marking a +1.42% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Heading into today, shares of the industrial conglomerate had lost 1.03% over the past month, outpacing the Conglomerates sector's loss of 3.55% and the S&P 500's loss of 5.57% in that time.
General Electric will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2023. The company is expected to report EPS of $1.12, up 21.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.88 billion, up 7.79% from the year-ago period.
Any recent changes to analyst estimates for General Electric should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that General Electric has a Forward P/E ratio of 33.02 right now. This represents a premium compared to its industry's average Forward P/E of 14.46.
Also, we should mention that GE has a PEG ratio of 4.72. 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. GE's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.