GE Aerospace (GE)

[DiscoverGold]

Earnings Preview: General Electric Co. (NYSE: GE)
By: 24/7 Wall St. | January 20, 2023

• Here is a look at five companies set to report quarterly results early Tuesday morning.

General Electric

Over the past 12 months, shares of General Electric Co. (NYSE: GE) have slipped by more than 23%. The shares dipped to their 52-week low in early July and have bounced more than 66% higher since. On January 3, GE spun off its Healthcare business into a new company, GE HealthCare Technologies Inc. (NASDAQ: GEHC), and GE shares have added 15.9%, and GE HealthCare shares have added 14.2% since the split. Following a spinoff of its energy businesses next year, GE will become solely an aerospace company.

Analysts remain bullish on the stock. There are 16 Buy or Strong Buy ratings, along with five Hold ratings, among the 21 brokerages covering it. At a share price of around $76.90, the potential upside to a median price target of $85.00 is about 11.8%. At the high target of $110.00, the upside potential is about 43%.

Fourth-quarter revenue is forecast at $22.11 billion, up 15.9% sequentially and by 8.9% year over year. Adjusted EPS are forecast at $1.16, up more than 230% sequentially and by 26.1% year over year. For the full 2022 fiscal year, analysts expect GE to report EPS of $2.55, up 20.4%, on sales of $76.8 billion, up 3.5%.

GE stock trades at 30.1 times expected 2022 EPS, 31.3 times estimated 2023 earnings of $2.56 and 18.6 times estimated 2024 earnings of $4.13 per share. The stock’s 52-week range is $59.93 to $101.91, and GE pays an annual dividend of $0.32 (yield of 0.4%). Total shareholder return for the past 12 months was negative 1.7%.

Read Full Story »»»

DiscoverGold