Somewhat Positive Press Coverage Somewhat Unlikely to Impact General Electric (NYSE:GE) Stock Price
News coverage about General Electric (NYSE:GE) has been trending somewhat positive recently, according to Accern Sentiment. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. General Electric earned a daily sentiment score of 0.16 on Accern’s scale. Accern also gave news stories about the conglomerate an impact score of 46.3836244329688 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news stories that may have effected Accern’s scoring:
- General Electric (GE) Lowered to “D+” at TheStreet (americanbankingnews.com)
- Ukrzaliznytsia to sign contract with General Electric in Feb – Omelyan (menafn.com)
- Gabelli: buying GE on the pullback (finance.yahoo.com)
- FPA Crescent Fund 4th Quarter 2017 Commentary (finance.yahoo.com)
- There is a lot of strength in GE, Baker Hughes GE CEO say… (finance.yahoo.com)
Several equities analysts recently commented on GE shares. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price target on shares of General Electric in a report on Thursday, October 12th. Citigroup set a $28.00 price target on General Electric and gave the company a “buy” rating in a report on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.42.
General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The firm had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. analysts forecast that General Electric will post 0.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.95%. General Electric’s dividend payout ratio is presently 44.44%.
In other General Electric news, Chairman John Leonard Flannery purchased 60,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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