Company Update (NYSE:GE): This Ain’t Your Father’s GE — Bravo!

[at Forbes] – There has been a lot going on at and around General Electric (GE) lately. The firm announced it was selling off its asset management business (to State Street) and a day later, submitted a request to the Department of Treasury to have its designation as a Structurally Important Financial Institution Read more on this. General Electric Company (GE) , currently valued at $284.77B, started the session at $30.72. Looking at today’s trading action, the company’s one day range from $30.52 to $30.78 and has traded between $19.37 and $32.05 over the past year. GE shares are currently priced at 20.60x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.95x earnings multiple. The company pays shareholders $0.92 per share in dividend income per year, for a current yield of 2.95%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $0.19 per share, which would be $0.01 worse than the year-ago quarter and a $0.08 sequential decrease. The full-year EPS estimate is $1.50, which would be a $0.19 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $27.78 Billion. If realized, that would be a 5.38% decrease over the year-ago quarter. More recently, Bernstein downgraded GE from Outperform to Mkt Perform (Apr 4, 2016). Previously, UBS Initiated GE at to Buy. The average price target for GE shares by the analysts covering it is $32.92, which is 7.16% above where the stock opened. See more in (NYSE:GE) Similar Articles: Stock Update: General Electric Company (NYSE:GE) – GE and State Street Corporation Announce Agreement for State Street to Acquire GE Asset Management for up to $485 Million Market Update: General Electric Company (NYSE:GE) – Jump Capital, GE Ventures and Two Roads Join $13.5 Million Series B Investment in Sight Machine Company Update: General Electric Company (NYSE:GE) – 81% of Consumers are Unsatisfied with their Healthcare Experience, According to a New Study by Prophet and GE Healthcare Camden Group
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