General Electric (GE - Free Report) closed at $9.02 in the latest trading session, marking a -1.53% move from the prior day. This move lagged the S&P 500's daily loss of 0.24%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.58%.
Heading into today, shares of the industrial conglomerate had gained 15.36% over the past month, outpacing the Conglomerates sector's gain of 8.35% and the S&P 500's gain of 4.96% in that time.
GE will be looking to display strength as it nears its next earnings release. On that day, GE is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 7.14%. Our most recent consensus estimate is calling for quarterly revenue of $29.09 billion, down 1.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.63 per share and revenue of $117.68 billion, which would represent changes of -3.08% and -3.23%, respectively, from the prior year.
Any recent changes to analyst estimates for GE 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.25% lower within the past month. GE is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that GE has a Forward P/E ratio of 14.54 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.99.
Investors should also note that GE has a PEG ratio of 2.01 right now. 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 1.85 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 48, putting it in the top 19% 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.