Why General Electric Company (NYSE:GE) Stock Should Not Be Discarded By Investors In 2021 – Marketing Sentinel
In today’s recent session, 55,487,096 shares of the General Electric Company(NYSE:GE) have been traded, and its beta is 1.08. Most recently the company’s share price was $11.99, and it changed around -$0.56 or -0.04% from the last close, which brings the market valuation of the company to $104.95 Billion. GE at last check was trading at a discount to its 52-week high of $14.42, offering almost -20.27% off that amount. The share price’s 52-week low was $5.93, which indicates that the recent value has risen by an impressive 50.54% since then. We note from General Electric Company’s average daily trading volume that its 10-day average is 46.35 Million shares, with the 3-month average coming to 58.93 Million.
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General Electric Company stock received a consensus recommendation rating of Overweight, based on a mean score of 2.1. If we narrow it down even further, the data shows that none out of 22 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended GE as a Hold, whereas 12 deemed it a Buy, and no one rated it as Underweight. General Electric Company is expected to report earnings per share of $0.04 for the current quarter.
Although GE has been showing red trend so far today with a performance of -4.42% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of $13.09 on Tuesday, Jul 13 increased the stock’s daily price by 9.21%. The company’s shares are currently up 0.1% year-to-date, but still down -0.0934 over the last five days. On the other hand, General Electric Company (NYSE:GE) is -0.07% down in the 30-day period. We can see from the shorts that 87.51 Million shares have been sold at a short interest cover period of 1.48 day(s).
The consensus price target as assigned by Wall Street analysts is $14.41, which translates to bears needing to increase their stock price by 20.18% from its current value. Analyst projections state that GE is forecast to be at a low of $5 and a high of $21. In order for the stock price to hit the forecast high, the stock would need to surge +75.15% from its current level, while the stock would need to crash -58.3% from its current level to reach the projected low.
General Electric Company (GE) projections and forecasts
General Electric Company share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +7.63 percent over the past six months and at a 2400% annual growth rate that is well above the industry average of 22.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +126.7% in revenue this quarter, and will report an increase of 16.7% in the next quarter. The year-over-year growth rate is expected to be -2.9%, down from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $18.14 Billion in revenue for the current quarter. 13 analysts expect General Electric Company to make $19.69 Billion in revenue for the quarter ending September 01, 2021. The company’s sales for the same quarters a year ago were $17.75 Billion and $19.42 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 2.2%. Forecasts for the next quarter put sales growth at 1.4%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 34.3%. General Electric Company earnings are expected to increase by 2500% in 2021, but the outlook is negative 0% per year for the next five years.
GE Dividend Yield
General Electric Company’s next quarterly earnings report is expected to be released around July 27 – August 02, 2021. The annual dividend yield of the stock is 0.31 percent and its annual dividend per share was $0.04. It is important to note, however, that the 0.31% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.55% per year.
General Electric Company (NYSE:GE)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.24% of General Electric Company shares, and 65.36% of them are in the hands of institutional investors. The stock currently has a share float of 65.52%. General Electric Company stock is held by 2298 institutions, with price (T.Rowe) Associates Inc being the largest institutional investor. By Mar 30, 2021, it held 8.66% of the shares, which is about 760.46 Million shares worth $9.98 Billion.
Vanguard Group, Inc. (The), with 7.43% or 652Million shares worth $8.56 Billion as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
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Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 247000000 shares worth $3.24 Billion, making up 2.82% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 179.55 Million shares worth around $2.36 Billion, which represents about 2.05% of the total shares outstanding.