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General Electric (GE) closed the most recent trading day at $103.29, moving +0.69% from the previous trading session. This change outpaced the S&P 500's 0.46% loss on the day.
Prior to today's trading, shares of the industrial conglomerate had lost 3.26% over the past month. This has lagged the Conglomerates sector's gain of 0.71% and the S&P 500's gain of 1.93% in that time.
Wall Street will be looking for positivity from GE as it approaches its next earnings report date. On that day, GE is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 10.42%. Our most recent consensus estimate is calling for quarterly revenue of $19.34 billion, down 0.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.99 per share and revenue of $77.14 billion, which would represent changes of +2387.5% and -3.12%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 remained stagnant within the past month. GE is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GE is currently trading at a Forward P/E ratio of 51.63. This represents a premium compared to its industry's average Forward P/E of 18.8.
Also, we should mention that GE has a PEG ratio of 9.68. 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 1.94 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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General Electric Company (GE) : Free Stock Analysis Report
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