General Electric Company (NYSE:GE) shares, rose in value on Thursday, May 25, with the stock price up by 0.44% to the previous day’s close as strong demand from buyers drove the stock to $101.42.
Actively observing the price movement in the recent trading, the stock is buoying the session at $100.98, falling within a range of $99.91 and $101.47. The value of beta (5-year monthly) is 1.21 whereas the PE ratio is 14.76 over 12-month period. Referring to stock’s 52-week performance, its high was $105.94, and the low was $46.77. On the whole, GE has fluctuated by 5.42% over the past month.
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With the market capitalization of General Electric Company currently standing at about $109.70 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 24, 2023 – Jul 28, 2023. The company’s Forward Dividend Ratio is 0.32, with its dividend yield at 0.32%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.45, which is expected to increase to $0.55 for fiscal year $2.04 and then to about $4.01 by fiscal year 2024. Data indicates that the EPS growth is expected to be -22.10% in 2024, while the next year’s EPS growth is forecast to be 96.60%.
Analysts have estimated the company’s revenue for the quarter at $14.99 billion, with a low estimate of $14.4 billion and a high estimate of $15.46 billion. According to the average forecast, sales growth in current quarter could jump down -19.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $62.37 billion, representing a decrease of -18.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that GE’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.58, with the price of GE currently trading nearly 0.27% and 4.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.37, while the 7-day volatility ratio is showing 2.11% which for the 30-day chart, stands at 2.17%. Furthermore, General Electric Company (GE)’s beta value is 1.29, and its average true range (ATR) is 2.12.
A comparison of General Electric Company (GE) with its peers suggests the former has fared considerably weaker in the market. GE showed an intraday change of 0.44% in today’s session so far, and over the past year, it grew by 74.41%%. In comparison, Honeywell International Inc. (HON) has moved lower at -0.31% today and is up 0.68% over the past 12 months. Additionally, there is a loss of -0.71% for Raytheon Technologies Corporation (RTX) in recent trading while the stock has seen an overall depriciation of -0.23%% over the past year. The PE ratio stands at 14.76 for General Electric Company, compared to 24.91 for Honeywell International Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.61%. Meanwhile, the Dow Jones Industrial Slipped by -0.18%.
Data on historical trading for General Electric Company (NYSE:GE) indicates that the trading volumes over the past 10 days have averaged 4.77 million and over the past 3 months, they’ve averaged 6.97 million. According to company’s latest data on outstanding shares, there are 1.09 billion shares outstanding.
Nearly 0.20% of General Electric Company’s shares belong to company insiders and institutional investors own 71.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.51 million shares as on Apr 27, 2023, resulting in a short ratio of 2.45. According to the data, the short interest in General Electric Company (GE) stood at 1.42% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 16.55 million. The stock has risen by 55.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GE stock heading into the next quarter.