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General Electric (GE) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 mins read

In the latest trading session, General Electric (GE) closed at $6.12, marking a -1.29% move from the previous day. This change lagged the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq lost 0.29%.

Heading into today, shares of the industrial conglomerate had lost 2.21% over the past month, lagging the Conglomerates sector's loss of 1.74% and outpacing the S&P 500's loss of 4.3% in that time.

Investors will be hoping for strength from GE as it approaches its next earnings release. The company is expected to report EPS of -$0.08, down 153.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $19.05 billion, down 18.46% from the prior-year quarter.

GE's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $79.36 billion. These results would represent year-over-year changes of -107.69% and -24.93%, respectively.

It is also important to note the recent changes to analyst estimates for GE. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 16.88% higher within the past month. GE is currently sporting a Zacks Rank of #4 (Sell).

The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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