In a report released today, Christopher Glynn from Oppenheimer maintained a Hold rating on General Electric (GE). The company’s shares opened today at $10.29.
“GE’s outlook established some new standards of clarity and real-world awareness: “we worked in some contingency, not based on perfection.” This is a very pertinent point, as in the real world, contingency often becomes the norm. Also, it draws a contrast to legacy GE, where guidance and target commitments in the past were probably drawn with perfection as a minimum standard at times. To wit, FCF recovery to palatable levels remains a work in progress; while CEO Culp indicated his view that businesses long-term might perform at hsd FCF return on sales, there is no timeline and it’s an aspirational goal. The goal likely requires years of establishing a broader culture of variable cost productivity and fundamentally contends with long- cycle business cash flows.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.4% and a 59.6% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
General Electric has an analyst consensus of Moderate Buy, with a price target consensus of $10.82, a 5.2% upside from current levels. In a report issued on March 5, J.P. Morgan also maintained a Hold rating on the stock with a $6 price target.
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Based on General Electric’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $33.28 billion and net profit of $761 million. In comparison, last year the company earned revenue of $32.39 billion and had a GAAP net loss of $9.86 billion.
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General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through the following segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.
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