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General Electric (GE) Stock Moves -0.31%: What You Should Know
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General Electric (GE - Free Report) closed the most recent trading day at $64.35, moving -0.31% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the industrial conglomerate had lost 14.24% over the past month, lagging the Conglomerates sector's loss of 12.26% and the S&P 500's loss of 10.4% in that time.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be October 25, 2022. The company is expected to report EPS of $0.51, down 10.53% from the prior-year quarter. 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.
Investors might also notice recent changes to analyst estimates for General Electric. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 remained stagnant. General Electric is currently a Zacks Rank #3 (Hold).
Digging into valuation, General Electric currently has a Forward P/E ratio of 23.59. This valuation marks a premium compared to its industry's average Forward P/E of 14.19.
Meanwhile, GE's PEG ratio is currently 3.37. 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 1.56 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 62, which puts it in the top 25% 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.
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General Electric (GE) Stock Moves -0.31%: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $64.35, moving -0.31% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the industrial conglomerate had lost 14.24% over the past month, lagging the Conglomerates sector's loss of 12.26% and the S&P 500's loss of 10.4% in that time.
Wall Street will be looking for positivity from General Electric as it approaches its next earnings report date. This is expected to be October 25, 2022. The company is expected to report EPS of $0.51, down 10.53% from the prior-year quarter. 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.
Investors might also notice recent changes to analyst estimates for General Electric. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 remained stagnant. General Electric is currently a Zacks Rank #3 (Hold).
Digging into valuation, General Electric currently has a Forward P/E ratio of 23.59. This valuation marks a premium compared to its industry's average Forward P/E of 14.19.
Meanwhile, GE's PEG ratio is currently 3.37. 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 1.56 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 62, which puts it in the top 25% 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.