General Electric (GE - Free Report) closed the most recent trading day at $8.55, moving -0.23% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Heading into today, shares of the industrial conglomerate had lost 2.72% over the past month, lagging the Conglomerates sector's loss of 0.68% and the S&P 500's gain of 0.59% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. This is expected to be October 30, 2019. In that report, analysts expect GE to post earnings of $0.13 per share. This would mark a year-over-year decline of 7.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.09 billion, down 1.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.63 per share and revenue of $117.75 billion. These totals would mark changes of -3.08% and -3.18%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for GE. These revisions help to show the ever-changing nature of 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.25% lower within the past month. GE is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, GE is holding a Forward P/E ratio of 13.6. Its industry sports an average Forward P/E of 13.6, so we one might conclude that GE is trading at a no noticeable deviation comparatively.
We can also see that GE currently has a PEG ratio of 1.88. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Diversified Operations was holding an average PEG ratio of 1.76 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.