GE Aerospace (NYSE:GE) shares, rose in value, with the stock price up by 6.05% to the previous day’s close as strong demand from buyers drove the stock to $156.30.
Actively observing the price movement in the last trading, the stock closed the session at $147.39. The value of beta (5-year monthly) was 1.24 whereas the PE ratio was 18.70 over 12-month period. Referring to stock’s 52-week performance, its high was $151.99, and the low was $74.55. On the whole, GE has fluctuated by 22.87% over the past month.
With the market capitalization of GE Aerospace currently standing at about $170.88 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 23, 2024. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 0.15%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.76, which is expected to increase to $1.02 for fiscal year $3.95 and then to about $4.89 by fiscal year 2025. Data indicates that the EPS growth is expected to be 40.60% in 2025, while the next year’s EPS growth is forecast to be 23.80%.
Analysts have estimated the company’s revenue for the quarter at $8.1 billion, with a low estimate of $8.09 billion and a high estimate of $8.11 billion. According to the average forecast, sales growth in current quarter could jump down -44.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $36.09 billion, representing a decrease of -46.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that GE’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.50, with the price of GE currently trading nearly 13.29% and 25.64% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 77.84, while the 7-day volatility ratio is showing 5.21% which for the 30-day chart, stands at 3.28%. Furthermore, GE Aerospace (GE)’s beta value is 1.30, and its average true range (ATR) is 4.70.
A comparison of GE Aerospace (GE) with its peers suggests the former has fared considerably weaker in the market. GE showed an intraday change of 6.05% in last session, and over the past year, it grew by 106.19%%.
Data on historical trading for GE Aerospace (NYSE:GE) indicates that the trading volumes over the past 10 days have averaged 10.68 million and over the past 3 months, they’ve averaged 8.17 million. According to company’s latest data on outstanding shares, there are 1.09 billion shares outstanding.
Nearly 0.37% of GE Aerospace’s shares belong to company insiders and institutional investors own 76.33% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.75 million shares as on Mar 15, 2024, resulting in a short ratio of 1.77. According to the data, the short interest in GE Aerospace (GE) stood at 1.17% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.11 million. The stock has risen by 53.55% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GE stock heading into the next quarter.
