General Electric (NYSE:GE) Releases FY 2024 Earnings Guidance

General Electric (NYSE:GE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.200-4.350 for the period, compared to the consensus estimate of 4.250. The company issued revenue guidance of -. General Electric also updated its FY24 guidance to $4.20-4.35 EPS.

General Electric Stock Performance

Shares of GE opened at $176.59 on Wednesday. The company has a market cap of $193.30 billion, a PE ratio of 57.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The firm has a 50-day moving average of $179.24 and a 200-day moving average of $168.05. General Electric has a one year low of $84.58 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s payout ratio is presently 36.72%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.