General Electric (GE - Free Report) closed at $82.88 in the latest trading session, marking a -0.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the industrial conglomerate had lost 3.05% in the past month. In that same time, the Conglomerates sector lost 0.51%, while the S&P 500 gained 0.09%.
General Electric will be looking to display strength as it nears its next earnings release. In that report, analysts expect General Electric to post earnings of $1.12 per share. This would mark year-over-year growth of 21.74%. Our most recent consensus estimate is calling for quarterly revenue of $21.88 billion, up 7.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.54 per share and revenue of $75.86 billion, which would represent changes of +19.81% and +2.33%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest 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. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, General Electric currently has a Forward P/E ratio of 32.79. This valuation marks a premium compared to its industry's average Forward P/E of 15.43.
Also, we should mention that GE has a PEG ratio of 4.68. 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 1.83 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 93, which puts it in the top 37% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.
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General Electric (GE - Free Report) closed at $82.88 in the latest trading session, marking a -0.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the industrial conglomerate had lost 3.05% in the past month. In that same time, the Conglomerates sector lost 0.51%, while the S&P 500 gained 0.09%.
General Electric will be looking to display strength as it nears its next earnings release. In that report, analysts expect General Electric to post earnings of $1.12 per share. This would mark year-over-year growth of 21.74%. Our most recent consensus estimate is calling for quarterly revenue of $21.88 billion, up 7.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.54 per share and revenue of $75.86 billion, which would represent changes of +19.81% and +2.33%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Electric. Recent revisions tend to reflect the latest 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. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, General Electric currently has a Forward P/E ratio of 32.79. This valuation marks a premium compared to its industry's average Forward P/E of 15.43.
Also, we should mention that GE has a PEG ratio of 4.68. 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 1.83 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 93, which puts it in the top 37% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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