General Electric Company (GE) Shares Fall On Weak Earnings, Outlook

Gladys Abbott
October 21, 2017

Nordea Investment Management Ab has invested 0.01% in Portland General Electric Company (NYSE:POR). The company has market cap of $204.15 billion. The company was downgraded on Thursday, October 12 by Roth Capital. First Republic Investment Mgmt holds 735,417 shares or 0.26% of its portfolio. About 142.07 million shares traded or 178.73% up from the average.

Northstar Asset Management Llc decreased General Electric (GE) stake by 33.22% reported in 2017Q2 SEC filing. It has underperformed by 4.60% the S&P500.

Investors sentiment decreased to 0.79 in Q2 2017. Its down 0.28, from 1.45 in 2017Q1. 111 funds opened positions while 598 raised stakes. AEGON N.V. (ADR) (NYSE:AEG) has declined 1.40% since October 20, 2016 and is downtrending. Shelter Mutual Insurance accumulated 353,490 shares. Gru has invested 0.31% of its portfolio in General Electric Company (NYSE:GE).

The former treasury offices of General Electric at 201 High Ridge Rd.in Stamford, Conn., with the company relocating employees to Norwalk in January 2017. Moreover, Ally Fin has 3.35% invested in General Electric Company (NYSE:GE). Toronto Dominion Retail Bank reported 3.38 million shares. GE also announced that it's partnering with Apple on apps to help industrial companies tap into Predix predictive data and analytics on iOS devices. 156,953 are owned by Woodley Farra Manion Management. Rathbone Brothers Public Ltd Com stated it has 1.5% of its portfolio in General Electric Company (NYSE:GE). Alps Advsrs holds 1.68 million shares. Diligent Investors Limited Liability Company has invested 0.82% of its portfolio in General Electric Company (NYSE:GE). Ramsay Stattman Vela Price accumulated 66,825 shares.

Shares of Portland General Electric Company (NYSE:POR) traded up 0.38% in the last session while performance was up 45.35% in the last five days.

Since May 16, 2017, it had 0 buys, and 2 selling transactions for $405,630 activity. Beattie William G had bought 16,000 shares worth $448,800 on Monday, May 15.

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Among 24 analysts covering General Electric Company (NYSE:GE), 11 have Buy rating, 3 Sell and 10 Hold. Therefore 14% are positive. General Electric Company had 65 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was downgraded by Bernstein to "Market Perform" on Monday, April 4.

October 12 investment analysts at JP Morgan held the company rating at "Neutral" but raised the price target from $36.00 to $47.00. It seems that Portland General Electric Company (NYSE:POR) might see strength given an ABR of 1.4 or Buy rating.

"Our results are unacceptable to say the least", Mr. Flannery said on a conference call Friday, noting that his review of the company is exhaustive and everything is on the table. The company was maintained on Monday, November 23 by Credit Suisse. The rating was maintained by Deutsche Bank on Tuesday, August 25 with "Hold".

"Operationally, this result was much worse than we expected", said a note from Goldman Sachs. The current consensus recommendation provided by covering analysts is 2.50. The firm earned "Hold" rating on Tuesday, September 22 by Vetr. The stock of BP plc (ADR) (NYSE:BP) earned "Hold" rating by Jefferies on Thursday, July 13. TheStreet upgraded the stock to "Buy" rating in Tuesday, July 21 report. The rating was upgraded by Bernstein on Friday, December 16 to "Outperform". The firm has "Neutral" rating by Nomura given on Friday, March 18. In general, more thrust is placed on most recent actions by assigning higher weights to it than those assigned to past movements.

Adjusted earnings this year are expected to be $1.05 to $1.10 a share, down from a previous range of $1.60 to $1.70 a share, GE said Friday in the statement. Presently, with an EPS of $0.886, we can expect an upcoming EPS of $1.581. It last reported revenues of $449 million and EPS of $0.36 for the June 2017, representing 5% top-line growth and 0.42 EPS growth. The 1-year high was reported on Oct, 20 by Barchart.com.

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