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GE Aerospace (GE) Advances While Market Declines: Some Information for Investors
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In the latest close session, GE Aerospace (GE - Free Report) was up +1.91% at $312.90. This change outpaced the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the industrial conglomerate had lost 18.14% in the past month. In that same time, the Aerospace sector lost 14.74%, while the S&P 500 lost 2.43%.
The upcoming earnings release of GE Aerospace will be of great interest to investors. On that day, GE Aerospace is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 21.08%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.66 billion, indicating a 11.96% increase compared to the same quarter of the previous year.
GE's full-year Zacks Consensus Estimates are calling for earnings of $7.91 per share and revenue of $50.56 billion. These results would represent year-over-year changes of +24.18% and +19.46%, respectively.
Any recent changes to analyst estimates for GE Aerospace should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.62% higher. As of now, GE Aerospace holds a Zacks Rank of #3 (Hold).
From a valuation perspective, GE Aerospace is currently exchanging hands at a Forward P/E ratio of 38.81. This denotes a premium relative to the industry average Forward P/E of 24.25.
One should further note that GE currently holds a PEG ratio of 2.24. 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. By the end of yesterday's trading, the Aerospace - Defense industry had an average PEG ratio of 1.64.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 104, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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GE Aerospace (GE) Advances While Market Declines: Some Information for Investors
In the latest close session, GE Aerospace (GE - Free Report) was up +1.91% at $312.90. This change outpaced the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the industrial conglomerate had lost 18.14% in the past month. In that same time, the Aerospace sector lost 14.74%, while the S&P 500 lost 2.43%.
The upcoming earnings release of GE Aerospace will be of great interest to investors. On that day, GE Aerospace is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 21.08%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.66 billion, indicating a 11.96% increase compared to the same quarter of the previous year.
GE's full-year Zacks Consensus Estimates are calling for earnings of $7.91 per share and revenue of $50.56 billion. These results would represent year-over-year changes of +24.18% and +19.46%, respectively.
Any recent changes to analyst estimates for GE Aerospace should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.62% higher. As of now, GE Aerospace holds a Zacks Rank of #3 (Hold).
From a valuation perspective, GE Aerospace is currently exchanging hands at a Forward P/E ratio of 38.81. This denotes a premium relative to the industry average Forward P/E of 24.25.
One should further note that GE currently holds a PEG ratio of 2.24. 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. By the end of yesterday's trading, the Aerospace - Defense industry had an average PEG ratio of 1.64.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 104, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.