On September 5, 2023, Larry Culp, the CEO of General Electric (GE), shared his insights on the aerospace industry during a podcast interview with Bloomberg. Culp expressed his optimism for a robust recovery in aerospace following the pandemic, projecting that GE’s annual revenue would exceed $40 billion. This positive outlook was further reinforced during a CNBC interview on March 10, 2022, where Culp reaffirmed GE’s guidance for 2022.
In a YouTube video released on the same day, Culp elaborated on the anticipated rebound in aerospace, emphasizing its potential to drive sales beyond the $40 billion mark. During a Squawk on the Street interview on November 9, 2021, Culp discussed how the planned split of GE would provide the company with strategic flexibility.
Culp’s commitment to fostering a lean culture of continuous improvement, strategy alignment, and people development at GE was highlighted in an interview with Katie Anderson and Mark Graban on kbjanderson.com. He emphasized the importance of these leadership principles in driving GE’s success.
During a podcast hosted by MarketWatch on July 14, 2023, Culp delved into the profound changes taking place within GE, which have resulted in a remarkable 70% increase in the company’s stock value year to date. These changes reflect GE’s ongoing transformation and its commitment to adapt and thrive in a rapidly evolving business landscape.
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
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On September 5, 2023, General Electric (GE) stock opened at $113.63, slightly lower than the previous day’s closing price of $114.24. Throughout the day, the stock traded within a range of $112.31 to $114.06. The trading volume for the day stood at 3,516,579 shares, lower than the three-month average volume of 4,850,179 shares. GE’s market capitalization was reported at $124.3 billion.
GE experienced a significant increase of 91.19% in the previous year. However, this year’s earnings growth has declined by 21.38%. Analysts forecast a more modest earnings growth of 7.00% over the next five years.
The company’s revenue growth in the last year was 3.23%. GE’s price-to-earnings (P/E) ratio is 12.2, which suggests that the stock is relatively undervalued compared to its earnings. The price-to-sales ratio is 1.20, while the price-to-book ratio is 3.42.
On September 5, 2023, GE’s stock performance was influenced by the overall market sentiment. Several other industrial companies, including Honeywell, HEICO Corp, and AAR Corp, also experienced declines in their stock prices. This negative sentiment led to a decrease of 1.43% in GE’s stock price, resulting in a change of -2.70.
GE’s next reporting date is scheduled for October 24, 2023. Analysts forecast an earnings per share (EPS) of $0.45 for the current quarter. The company’s annual revenue for the previous year was reported at $76.6 billion, with an annual profit of $29.0 million. The net profit margin stands at 1.13%.
General Electric operates in the producer manufacturing sector, specifically in the industrial machinery industry. The company is headquartered in Boston, Massachusetts.
Overall, on September 5, 2023, GE’s stock performance was influenced by the negative sentiment in the industrial sector. The decline in the stock price can be attributed to the broader market conditions and the performance of other industrial companies. Investors will be eagerly awaiting the next earnings report to gain more insights into the company’s financial performance and future prospects.
On September 5, 2023, General Electric Co (GE) stock was performing well, with analysts predicting a positive future for the company. According to data from CNN Money, 15 analysts offered 12-month price forecasts for GE, with a median target of $131.00. The high estimate was $140.00, while the low estimate was $110.00. This median estimate represented a 16.01% increase from the last price of $112.92.
The consensus among 20 polled investment analysts was to buy stock in GE. This rating had remained steady since July, indicating a continued positive sentiment towards the company’s prospects.
Moving on to the financials, GE reported earnings per share of $0.45 for the current quarter, which is a positive indicator of the company’s profitability. Additionally, the company reported sales of $15.2 billion, indicating a healthy level of revenue generation.
Looking ahead, investors can expect GE to release its next earnings report on October 24. This will provide further insights into the company’s financial performance and may influence the stock price.
Overall, the data from CNN Money suggests that GE stock was performing well on September 5, 2023. With analysts predicting a positive future for the company and a consensus buy rating, investors may consider GE as a potential investment opportunity. However, it is important to conduct further research and analysis before making any investment decisions.
Yasmine’s focus is on uncovering early-stage ideas with the potential to have a lasting impact. Her educational background includes a bachelor’s degree in finance, an MBA, and two tests completed – the CFA and CMT.
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