General Electric Co. (GE) stock price indicates a positive signal that is supported by the active bulls in the market. However, the weekly price rise is showing 1.71% whereas on the recent day, the stock rose 1.78%. However, in a month, GE stock showed a 1.36% price drop that now seems like changing its path from the previous trend.
Due to the bullish market trend, the technical rating of GE stock showed a “strong buy.” On the other hand, in the similar industrial machinery industry, Crane NXT Co. (NYSE: CXT) stock, IDEX Corporation (NYSE: IEX) stock, and Woodward Inc. (NASDAQ: WWD) stock also showed similar technical ratings.
However, the year-to-date (YTD) price is showing over 73% price rise that now dropped to over 34% in the last 6 months. The YTD price analysis may be less than its last 6 months’ price analysis but due to the recent upside trend, the stock price is making a rising chart.
GE Stock Price Analysis
Due to the recent market trend followed by GE stock price, it surpassed its 20-day EMA and now rests at $113.96. However, if the bulls continue their previous support during the trading session then GE stock may follow its bullish journey. But as the pre-market price of General Electric Co. stock is considered, it is showing a slight decline from its previous closing.
As per recent price performance, the RSI of GE stock also started its upward journey. Notably when General Electric Company reported its recent quarter report, its stock price showed almost similar price gain. As compared to that day, the trading volume now has dropped to nearly 2 Million from 17 Million but still supports a bullish trend.
Moreover, the 1-year price target set by analysts is showing at $128.61, up by over 12% from the recent closing price of GE stock. Their maximum estimate is at $140.00 while the minimum estimate is at $110.00.
The Financial Update of General Electric Co.
General Electric Company, (NYSE: GE), an American multinational conglomerate, has a market cap of $124.03 Billion. According to its recent Q2 2023 report, its net income is $31.00 Million while GE’s price-to-sales ratio is 1.69. It has an Enterprise Value to EBITDA ratio of 20.85.
General Electric Co. dividends are paid quarterly. The last dividend per share was $0.08 and as of today, Dividend Yield (TTM)% is 0.29%. The earnings per share (EPS) for Q2 2023 is $0.68 whereas the estimation was $0.46 which accounts for a 46.97% surprise.
General Electric Co. revenue for the same period amounts to $15.85 Billion despite the estimated figure of $14.76 Billion. For the upcoming quarter, the estimated EPS is $0.56 and the revenue is expected to reach $15.40 Billion.
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