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General Electric (GE) Gains As Market Dips: What You Should Know
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In the latest trading session, General Electric (GE - Free Report) closed at $94.10, marking a +0.2% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the industrial conglomerate had gained 3.01% in the past month. In that same time, the Conglomerates sector gained 1.59%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect General Electric to post earnings of $0.12 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.36 billion, down 21.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $61.68 billion, which would represent changes of -24.43% and -19.43%, respectively, from the prior 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. 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. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.12% higher. General Electric currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, General Electric currently has a Forward P/E ratio of 47.49. Its industry sports an average Forward P/E of 17.08, so we one might conclude that General Electric is trading at a premium comparatively.
We can also see that GE currently has a PEG ratio of 6.78. 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. GE's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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) Gains As Market Dips: What You Should Know
In the latest trading session, General Electric (GE - Free Report) closed at $94.10, marking a +0.2% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the industrial conglomerate had gained 3.01% in the past month. In that same time, the Conglomerates sector gained 1.59%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from General Electric as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect General Electric to post earnings of $0.12 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.36 billion, down 21.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $61.68 billion, which would represent changes of -24.43% and -19.43%, respectively, from the prior 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. 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. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.12% higher. General Electric currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, General Electric currently has a Forward P/E ratio of 47.49. Its industry sports an average Forward P/E of 17.08, so we one might conclude that General Electric is trading at a premium comparatively.
We can also see that GE currently has a PEG ratio of 6.78. 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. GE's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.