General Electric (NYSE:GE) Downgraded to D+ at TheStreet
General Electric (NYSE:GE) was downgraded by research analysts at TheStreet from a “c” rating to a “d+” rating in a report released on Monday, TheStreetRatingsTable reports.
GE has been the subject of several other research reports. UBS Group reiterated a “buy” rating and issued a $136.00 price objective on shares of General Electric in a research note on Friday, July 23rd. Citigroup reiterated a “buy” rating and issued a $136.00 price objective on shares of General Electric in a research note on Wednesday, August 11th. Barclays boosted their target price on General Electric from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, May 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $120.00 to $112.00 and set a “hold” rating on the stock in a report on Wednesday, July 14th. Finally, Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating and set a $112.00 price objective on the stock. in a report on Monday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average rating of “Buy” and a consensus price target of $116.80.
Shares of NYSE:GE opened at $100.38 on Monday. The company has a market cap of $110.42 billion, a PE ratio of -36.90, a price-to-earnings-growth ratio of 9.63 and a beta of 1.07. General Electric has a twelve month low of $48.00 and a twelve month high of $115.32. The company’s 50 day moving average is $103.30 and its 200 day moving average is $105.49. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.69.
General Electric (NYSE:GE) last announced its earnings results on Monday, July 26th. The conglomerate reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. General Electric had a positive return on equity of 5.56% and a negative net margin of 3.18%. The firm had revenue of $18.30 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same quarter last year, the firm posted ($1.20) EPS. The business’s revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that General Electric will post 1.99 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of GE. Kayne Anderson Rudnick Investment Management LLC lifted its position in General Electric by 251.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,100 shares of the conglomerate’s stock worth $28,000 after buying an additional 1,503 shares during the period. West Branch Capital LLC purchased a new position in General Electric during the second quarter worth about $33,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in General Electric during the first quarter worth about $38,000. Financial Insights Inc. acquired a new stake in General Electric during the second quarter worth about $38,000. Finally, Truvestments Capital LLC increased its stake in General Electric by 112.2% during the second quarter. Truvestments Capital LLC now owns 2,837 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 1,500 shares during the last quarter.
General Electric Company Profile
General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.
Further Reading: How to Trade Using Analysts Ratings
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