With these restructuring initiatives, General Electric expects operating earnings from the industrial business to aggregate over 90% of its total operating earnings by 2018, up from 58% in 2014. GE also increased the amount of finance operations that it will have agreed to sell to at least $140 billion this year, up from an early low-end estimate of $100 billion. The stock’s 50-day moving average is $25.62 and its 200 day moving average is $26.37.
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General Electric Co (GE.N) reported a better-than-expected quarterly profit on Friday, as its businesses producing jet engines and power turbines offset declines in its oil and gas segment. The company had revenue of $26547.00 million for the quarter, compared to analysts expectations of $28656.99 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. For the 2015 fiscal year, the current consensus calls for EPS of $1.30 on revenues of $124.03 billion.
Aviation revenue increased 5 percent, while revenue in its power and water division, its biggest segment, grew 1 percent.
Wall Street analysts surveyed by Thomson Reuters had forecast almost $28.65 billion in revenue and 26 cents in earnings per share. Stockholders of record on Monday, September 21st will be issued a $0.23 dividend. At the same time, General Electric remains committed to achieve 2%-5% industrial segment organic revenue growth; margin expansion; a smaller GE Capital; $16 billion in cash flow from industrial activities; and $30 billion cash return to shareowners.
General Electric Company (NYSE:GE) is a diversified infrastructure and financial services firm. The company has an average rating of “Hold” and an average target price of $28.88. Finally, Morgan Stanley restated a “neutral” rating on shares of General Electric Company in a report on Friday. Societe Generale reissued a “hold” rating on shares of General Electric Company in a report on Thursday, June 25th.
A number of equities analysts have recently commented on the company.
One of the reasons for the company’s better than expected performance is the successful attempts of General Electric to go back to its industrial manufacturing roots, making large industrial equipment, and pushing aside other ventures.
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However, oil and gas profits fell 11.5 per cent as the downturn in the petroleum industry due to lower commodity prices weighed on results. These companies: Consumer and Leasing, Commercial Lending, Real Estate, Energy Financial Services and GE Capital Aviation Services are operated by GE Capital. The Organization operates in approximately 175 countries.
