General Electric Company Is Forecast To Drop -61.09% To Hit Consensus price Target – Marketing Sentinel
In the latest trading session, 4.37 million General Electric Company (NYSE:GE) shares changed hands as the company’s beta touched 1.08. With the company’s most recent per share price at $104.29 changing hands around $2.29 or 2.25% at last look, the market valuation stands at $113.38B. GE’s current price is a discount, trading about -10.58% off its 52-week high of $115.32. The share price had its 52-week low at $47.44, which suggests the last value was 54.51% up since then. When we look at General Electric Company’s average trading volume, we note the 3-month average coming to 8.09 million.
Analysts gave the General Electric Company (GE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended GE as a Hold, 12 felt it is a Buy and 0 rated the stock as Underweight. General Electric Company’s EPS for the current quarter is expected to be $0.54.
Instantly GE is in green as seen in intraday trades today. With action -4.01%, the performance over the past five days has been red. The jump to weekly highs of 104.94 on Friday, 09/10/21 added 2.25% to the stock’s daily price. The company’s shares are showing year-to-date upside of 18.06%, with the 5-day performance at -4.01% in the red. However, in the 30-day time frame, General Electric Company (NYSE:GE) is -3.81% down.
The consensus price target for the stock as assigned by Wall Street analysts is $124.75, meaning bulls need an upside of 16.4% from its recent market value. According to analyst projections, GE’s forecast low is $80.00 with $168.00 as the target high. To hit the forecast high, the stock’s price needs a -61.09% plunge from its current level, while the stock would need to tank 23.29% for it to hit the projected low.
General Electric Company (GE) estimates and forecasts
Data shows that the General Electric Company share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 1.35% over the past 6 months, a 2,387.50% in annual growth rate that is considerably higher than the industry average of 27.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for General Electric Company will rise 12.50%, while the growth in revenue is estimated to hit 46.90% for the next quarter. Year-over-year growth is forecast to reach -3.00% down from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $19.55 billion. 13 analysts are of the opinion that General Electric Company’s revenue for the quarter ending Dec 2021 will be $22.26 billion. The company’s revenue for the corresponding quarters a year ago was $19.42 billion and $21.93 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.70%. The estimates for the next quarter sales put growth at 1.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 34.30%. The 2021 estimates are for General Electric Company earnings to increase by 2537.50%.
General Electric Company is expected to release its next quarterly earnings report between October 26 and November 01. The 0.04% annual yield figure for the share gives it an annual dividend of 0.04. It is important to note, however, that the 0.04% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
General Electric Company (NYSE:GE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.24% of General Electric Company shares while 65.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.69%. There are 65.54% institutions holding the General Electric Company stock share, with Eagle Capital Management LLC the top institutional holder. As of Jun 29, 2021, the company held 10.22% of the shares, roughly 112.38 million GE shares worth $12.1 billion.
price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 9.23% or 101.53 million shares worth $10.93 billion as of Jun 29, 2021.
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Among Mutual Funds, the top two as of Jun 29, 2021 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 30.99 million shares estimated at $3.34 billion under it, the former controlled 2.82% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.07% of the shares, roughly 22.79 million shares worth around $2.45 billion.