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GE Aerospace (GE) Suffers a Larger Drop Than the General Market: Key Insights
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GE Aerospace (GE - Free Report) closed at $292.18 in the latest trading session, marking a -2.19% move from the prior day. This change lagged the S&P 500's 1.16% loss on the day. On the other hand, the Dow registered a loss of 0.47%, and the technology-centric Nasdaq decreased by 1.81%.
Shares of the industrial conglomerate have appreciated by 0.92% over the course of the past month, underperforming the Aerospace sector's gain of 1.04%, and the S&P 500's gain of 1.03%.
The investment community will be paying close attention to the earnings performance of GE Aerospace in its upcoming release. The company is forecasted to report an EPS of $1.4, showcasing a 6.06% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.18 billion, up 13.13% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.2 per share and a revenue of $41.63 billion, demonstrating changes of +34.78% and -1.46%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for GE Aerospace. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, GE Aerospace boasts a Zacks Rank of #2 (Buy).
With respect to valuation, GE Aerospace is currently being traded at a Forward P/E ratio of 48.17. This denotes a premium relative to the industry average Forward P/E of 26.55.
One should further note that GE currently holds a PEG ratio of 2.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 2.06.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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GE Aerospace (GE) Suffers a Larger Drop Than the General Market: Key Insights
GE Aerospace (GE - Free Report) closed at $292.18 in the latest trading session, marking a -2.19% move from the prior day. This change lagged the S&P 500's 1.16% loss on the day. On the other hand, the Dow registered a loss of 0.47%, and the technology-centric Nasdaq decreased by 1.81%.
Shares of the industrial conglomerate have appreciated by 0.92% over the course of the past month, underperforming the Aerospace sector's gain of 1.04%, and the S&P 500's gain of 1.03%.
The investment community will be paying close attention to the earnings performance of GE Aerospace in its upcoming release. The company is forecasted to report an EPS of $1.4, showcasing a 6.06% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.18 billion, up 13.13% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.2 per share and a revenue of $41.63 billion, demonstrating changes of +34.78% and -1.46%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for GE Aerospace. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, GE Aerospace boasts a Zacks Rank of #2 (Buy).
With respect to valuation, GE Aerospace is currently being traded at a Forward P/E ratio of 48.17. This denotes a premium relative to the industry average Forward P/E of 26.55.
One should further note that GE currently holds a PEG ratio of 2.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 2.06.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.