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General Electric (GE) Stock Moves -0.54%: What You Should Know
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General Electric (GE - Free Report) closed the most recent trading day at $67.57, moving -0.54% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the industrial conglomerate had lost 1.41% over the past month, outpacing the Conglomerates sector's loss of 6.34% and the S&P 500's loss of 6.51% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.49, down 14.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 $2.69 per share and revenue of $75.77 billion. These totals would mark changes of +26.89% and +2.22%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for General Electric. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 1.83% lower. General Electric is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, General Electric is currently trading at a Forward P/E ratio of 25.29. This represents a premium compared to its industry's average Forward P/E of 14.99.
Also, we should mention that GE has a PEG ratio of 3.61. 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 1.49 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Electric (GE) Stock Moves -0.54%: What You Should Know
General Electric (GE - Free Report) closed the most recent trading day at $67.57, moving -0.54% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the industrial conglomerate had lost 1.41% over the past month, outpacing the Conglomerates sector's loss of 6.34% and the S&P 500's loss of 6.51% in that time.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.49, down 14.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 $2.69 per share and revenue of $75.77 billion. These totals would mark changes of +26.89% and +2.22%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for General Electric. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 1.83% lower. General Electric is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, General Electric is currently trading at a Forward P/E ratio of 25.29. This represents a premium compared to its industry's average Forward P/E of 14.99.
Also, we should mention that GE has a PEG ratio of 3.61. 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 1.49 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.