GE Aerospace (GE) Suffers a Larger Drop Than the General Market: Key Insights
GE Aerospace (GE) ended the recent trading session at $323.64, demonstrating a -1.19% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.34% for the day. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, added 0.16%. Coming into today, shares of the industrial conglomerate had gained 14.8% in the past month. In that same time, the Aerospace sector gained 9.73%, while the S&P 500 gained 1.19%. Analysts and investors alike will be keeping a close eye on the performance of GE Aerospace in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.4, indicating a 6.06% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $11.18 billion, indicating a 13.13% upward movement from the same quarter last year. For the full year, the Zacks Consensus Estimates project earnings of $6.2 per share and a revenue of $41.63 billion, demonstrating changes of +34.78% and 0%, respectively, from the preceding year. Investors should also take note of any recent adjustments to analyst estimates for GE Aerospace. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. GE Aerospace is currently a Zacks Rank #3 (Hold). From a valuation perspective, GE Aerospace is currently exchanging hands at a Forward P/E ratio of 46.72. This signifies a premium in comparison to the average Forward P/E of 22.82 for its industry. One should further note that GE currently holds a PEG ratio of 2.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry had an average PEG ratio of 1.79 as trading concluded yesterday. The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 44% of over 250 industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow GE in the coming trading sessions, be sure to utilize Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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