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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 $73.08, moving -0.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the industrial conglomerate had lost 1.74% over the past month, outpacing the Conglomerates sector's loss of 5.05% and the S&P 500's loss of 4.13% in that time.
General Electric will be looking to display strength as it nears its next earnings release. On that day, General Electric is projected to report earnings of $0.51 per share, which would represent a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $19.04 billion, up 3.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.74 per share and revenue of $75.89 billion. These totals would mark changes of +29.25% and +2.38%, respectively, from last year.
Any recent changes to analyst estimates for General Electric should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 26.84. This represents a premium compared to its industry's average Forward P/E of 16.41.
We can also see that GE currently has a PEG ratio of 3.83. 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. The Diversified Operations industry currently had an average PEG ratio of 1.59 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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) Stock Sinks As Market Gains: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $73.08, moving -0.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the industrial conglomerate had lost 1.74% over the past month, outpacing the Conglomerates sector's loss of 5.05% and the S&P 500's loss of 4.13% in that time.
General Electric will be looking to display strength as it nears its next earnings release. On that day, General Electric is projected to report earnings of $0.51 per share, which would represent a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $19.04 billion, up 3.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.74 per share and revenue of $75.89 billion. These totals would mark changes of +29.25% and +2.38%, respectively, from last year.
Any recent changes to analyst estimates for General Electric should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. General Electric is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 26.84. This represents a premium compared to its industry's average Forward P/E of 16.41.
We can also see that GE currently has a PEG ratio of 3.83. 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. The Diversified Operations industry currently had an average PEG ratio of 1.59 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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.