We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
General Electric (GE) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, General Electric (GE - Free Report) closed at $12.81, marking a -0.62% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%.
Coming into today, shares of the industrial conglomerate had lost 4.8% in the past month. In that same time, the Conglomerates sector gained 2.11%, while the S&P 500 gained 3%.
GE will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2021. On that day, GE is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 126.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.28 billion, up 2.99% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $0.26 per share and revenue of $77.82 billion. These results would represent year-over-year changes of +2500% and -2.26%, respectively.
Investors should also note any recent changes to analyst estimates for GE. 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. 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 0.14% lower. GE is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that GE has a Forward P/E ratio of 50.13 right now. This valuation marks a premium compared to its industry's average Forward P/E of 20.84.
Meanwhile, GE's PEG ratio is currently 11.79. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
General Electric (GE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, General Electric (GE - Free Report) closed at $12.81, marking a -0.62% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%.
Coming into today, shares of the industrial conglomerate had lost 4.8% in the past month. In that same time, the Conglomerates sector gained 2.11%, while the S&P 500 gained 3%.
GE will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2021. On that day, GE is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 126.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.28 billion, up 2.99% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of $0.26 per share and revenue of $77.82 billion. These results would represent year-over-year changes of +2500% and -2.26%, respectively.
Investors should also note any recent changes to analyst estimates for GE. 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. 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 0.14% lower. GE is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that GE has a Forward P/E ratio of 50.13 right now. This valuation marks a premium compared to its industry's average Forward P/E of 20.84.
Meanwhile, GE's PEG ratio is currently 11.79. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
To follow GE in the coming trading sessions, be sure to utilize Zacks.com.