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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 the most recent trading day at $8.73, moving -1.91% from the previous trading session. This change lagged the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 1.71%.
Heading into today, shares of the industrial conglomerate had gained 24.48% over the past month, outpacing the Conglomerates sector's gain of 2.57% and the S&P 500's loss of 0.58% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. This is expected to be January 31, 2019. On that day, GE is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $31.85 billion, up 1.42% from the year-ago period.
Any recent changes to analyst estimates for GE should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GE is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, GE is currently trading at a Forward P/E ratio of 12. Its industry sports an average Forward P/E of 14.38, so we one might conclude that GE is trading at a discount comparatively.
Investors should also note that GE has a PEG ratio of 2.29 right now. 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. GE's industry had an average PEG ratio of 1.66 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $8.73, moving -1.91% from the previous trading session. This change lagged the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 1.71%.
Heading into today, shares of the industrial conglomerate had gained 24.48% over the past month, outpacing the Conglomerates sector's gain of 2.57% and the S&P 500's loss of 0.58% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. This is expected to be January 31, 2019. On that day, GE is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $31.85 billion, up 1.42% from the year-ago period.
Any recent changes to analyst estimates for GE should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GE is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, GE is currently trading at a Forward P/E ratio of 12. Its industry sports an average Forward P/E of 14.38, so we one might conclude that GE is trading at a discount comparatively.
Investors should also note that GE has a PEG ratio of 2.29 right now. 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. GE's industry had an average PEG ratio of 1.66 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.