General Electric (GE) Posts Quarterly Earnings, Beats Estimates By $0.01 EPS
General Electric (GE) announced its earnings results on Friday. The company reported $0.34 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.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley (NYSE: MS) cut their EPS estimates on shares of General Electric in a research note on Monday. They now have an “overweight” rating and a $21.00 price target on the stock. On the ratings front, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of General Electric from $21.00 to $22.00 in a research note to investors on Monday. Finally, analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of General Electric in a research note to investors on Monday.
Shares of General Electric (GE) opened at 19.54 on Wednesday. General Electric (GE) has a one year low of $14.02 and a one year high of $21.00. The company has a market cap of $206.8 billion and a P/E ratio of 16.16.
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. Effective January 28, 2011, it held a 49% interest in a media entity that includes the NBC Universal businesses. Its segments include Energy Infrastructure, Technology Infrastructure, NBC Universal, GE Capital and Home & Business Solutions. Effective January 1, 2011, it reorganized Technology Infrastructure segment into three segments: Aviation, Healthcare and Transportation. On February 1, 2011, it acquired Dresser, Inc. On February 3, 2011, it acquired Wellstream PLC. In September 2011, it launched a new entity, Research Circle Technology Inc. (RCT). In October 2011, the Company’s GE Energy Financial Services unit bought a 58% interest in Lightfoot Capital Partners L.P.