General Electric (GE) Flat As Market Sinks: What You Should Know
In the latest trading session, General Electric (GE) closed at $7.29, marking no change from the previous day. This change was narrower than the S&P 500's 1.63% loss on the day. Elsewhere, the Dow lost 1.44%, while the tech-heavy Nasdaq lost 1.65%.
Heading into today, shares of the industrial conglomerate had gained 3.4% over the past month, lagging the Conglomerates sector's gain of 5.8% and outpacing the S&P 500's gain of 2.86% in that time.
Investors will be hoping for strength from GE as it approaches its next earnings release, which is expected to be October 28, 2020. The company is expected to report EPS of -$0.08, down 153.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $19.15 billion, down 18.02% from the year-ago period.
GE's full-year Zacks Consensus Estimates are calling for earnings of -$0.04 per share and revenue of $79.48 billion. These results would represent year-over-year changes of -106.15% and -24.82%, respectively.
Any recent changes to analyst estimates for GE should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.5% higher within the past month. GE is holding a Zacks Rank of #3 (Hold) right now.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.