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General Electric (GE) Dips More Than Broader Markets: What You Should Know
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General Electric (GE - Free Report) closed at $84.14 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Heading into today, shares of the industrial conglomerate had gained 5.26% over the past month, outpacing the Conglomerates sector's loss of 4.05% and the S&P 500's loss of 2.53% 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 $0.12 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $13.46 billion, down 20.98% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.93 per share and revenue of $61.68 billion. These totals would mark changes of -26.34% and -19.43%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 43.86. This valuation marks a premium compared to its industry's average Forward P/E of 12.46.
We can also see that GE currently has a PEG ratio of 6.27. 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 was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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General Electric (GE) Dips More Than Broader Markets: What You Should Know
General Electric (GE - Free Report) closed at $84.14 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Heading into today, shares of the industrial conglomerate had gained 5.26% over the past month, outpacing the Conglomerates sector's loss of 4.05% and the S&P 500's loss of 2.53% 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 $0.12 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $13.46 billion, down 20.98% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.93 per share and revenue of $61.68 billion. These totals would mark changes of -26.34% and -19.43%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 43.86. This valuation marks a premium compared to its industry's average Forward P/E of 12.46.
We can also see that GE currently has a PEG ratio of 6.27. 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 was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.