General Electric (GE) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

General Electric (GE) released its earnings data on Friday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company’s revenue for the quarter was down 8.2% on a year-over-year basis.

A number of research firms have also recently commented on GE. Analysts at Morgan Stanley (NYSE: MS) raised their EPS on shares of General Electric in a research note to investors on Friday, May 18th. They now have an “overweight” rating and a $21.00 price target on the stock. They previously had a “buy” rating on the stock. On the ratings front, analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of General Electric in a research note to investors on Thursday, May 17th.

Shares of General Electric (GE) traded down 0.16% during mid-day trading on Thursday, hitting $19.15. General Electric (GE) has a 52 week low of $14.02 and a 52 week high of $21.00. The company has a market cap of $202.7 billion and a P/E ratio of 15.86.

General Electric Company (GE) is a diversified technology and financial services corporation. The products and services of the Company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.

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Posted by Web Inquirer Staff on 24 May 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.