GE Aerospace (GE)

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Earnings Preview: General Electric (GE)
By: 24/7 Wall St. | April 21, 2023

General Electric

Over the past 12 months, shares of General Electric Co. (NYSE: GE) have added more than 9%. On Thursday, the stock broke through the $100 per share barrier for the first time in five years. The stock price has nearly doubled in the past six months and has risen more than 50% so far in 2023. The successful spin-off of its health care business will be followed early next year by the spin-off of its energy business, leaving the booming aerospace division as the new GE.

Analysts remain bullish on the stock. There are 16 Buy or Strong Buy ratings, along with four Hold ratings, among the 20 brokerages covering the stock. At a recent price of around $100.00 a share, the potential upside to a median price target of $104.00 is 4%. At the high target of $120.00, the upside potential is 20%.

First-quarter revenue is forecast at $13.46 billion, which would be down 38.2% sequentially and 21.0% lower year over year. Adjusted EPS are forecast at $0.14, down 89% sequentially and by 41.7% year over year. For the full 2023 fiscal year, analysts expect GE to report EPS of $1.98, down 24.3%, on sales of $62.81 billion, down 18%. First-quarter numbers for the prior quarter and the prior year include health care operations that were spun off in January.

GE stock trades at 50.4 times expected 2023 EPS, 25.1 times estimated 2024 earnings of $3.97 and 19.2 times estimated 2025 earnings of $5.20 per share. The stock’s 52-week trading range is $59.93 to $100.47, and GE pays an annual dividend of $0.32 (yield of 0.32%). Total shareholder return for the past 12 months was 40.7%.

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