Bank of America Corp. reiterated their buy rating on shares of General Electric (NYSE:GE) in a research report released on Wednesday morning, AnalystRatings.Net reports. Bank of America Corp. currently has a $24.17 price objective on the stock, down from their previous price objective of $26.00.
General Electric (NYSE:GE) traded down 0.58% on Wednesday, hitting $23.96. 20,600,892 shares of the company’s stock traded hands. General Electric has a 52-week low of $19.87 and a 52-week high of $24.95. The stock’s 50-day moving average is $23.82 and its 200-day moving average is $23.51. The company has a market cap of $244.0 billion and a P/E ratio of 17.84.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 19th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $35.12 billion for the quarter, compared to the consensus estimate of $35.58 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts expect that General Electric will post $1.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 19th.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a buy rating on shares of General Electric (NYSE:GE) in a research note to investors on Thursday, September 26th. Finally, analysts at Argus reiterated a buy rating on shares of General Electric (NYSE:GE) in a research note to investors on Wednesday, September 11th. They now have a $28.00 price target on the stock. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $27.68.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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