Forbes Earnings Preview General Electric Company
Post on: 2011-11-02 By: admin
General Electric Company’s (GE) stock closed at $16.23 on October 17, 2011, down 12.8% since July 20, 2011. General Electric Company will try to reverse the slide when it reports third-quarter earnings on Friday, October 21, 2011.
What to Expect:
The Wall Street consensus is 31 cents per share, up 6.9% from a year ago when General Electric Company reported earnings of 29 cents per share.
The consensus estimate is down from three months ago, when it was 32 cents, but is unchanged over the past month. Analysts are expecting earnings of $1.35 for the fiscal year per share.
Analysts look for revenue to decrease 2.9% year-over-year to $34.86 billion for the quarter, after being $35.89 billion a year ago. Revenue is projected to roll in at $148.13 billion for the year.
Analyst Ratings:
The majority of analysts (66.7%) rate General Electric Company as a buy. That percentage is still below the mean analyst rating of its nearest 10 competitors, which average 80% buys. Analyst sentiment has been waning recently, as the number of buy ratings has dropped slightly over the past three months.
Trends to Watch For:
The company has seen net income rise in three straight quarters. In the most recent quarter, profit increased 21.1% year-over-year. Going back two quarters, net income rose 76.5% in the first quarter and 50.5% in the fourth quarter of the last fiscal year.
Over the last four quarters, revenue has fallen an average of 1.9% year-over-year. The biggest drop came in the third quarter of the last fiscal year, when revenue fell 5.1% from the year-earlier quarter.
Dividends:
General Electric Company’s current dividend yield is 3.7% based on Monday’s close of $16.23. The company has an annualized dividend of 60 cents per share.
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Article original from: http://www.forbes.com/sites/narrativescience/2011/10/18/forbes-earnings-preview-general-electric-company/
