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What you need to know
- GE Aerospace will report its results for the fourth quarter before Thursday’s market opening, and analysts have high hopes for this maker of aircraft engines and parts.
- This will be the company's third full quarter since conglomerate General Electric split into three companies.
- GE Aerospace's stock fell following its last report.
Analysts are optimistic about GE Aerospace’s (GE), which is slated Thursday to release its fourth quarter results. The maker of aircraft engines and parts will be reporting the results.
Visible Alpha has nine analysts who have rated the stock as A. “buy.” The average price of the stock is now $211.67. That’s 16% above its previous level, $182.85 at which it traded on Tuesday.
Visible Alpha has estimated that GE Aerospace should post a profit of $1.10 on each share of its $10.12 billion revenue. When the company was a part of General Electric a year ago, they posted 1.6 billion dollars in profits on an $8.52 billion revenue.
The company’s third quarterly report, since GE HealthCare and GE Vernova were spun-off in April 2020 (GEHC), will also be the first one to come out of GE. GE Vernova reports its own results for the fourth quarter on Wednesday. GE HealthCare will do so on February 13.
GE Aerospace stock fell after Q3 report
Stocks of the engine manufacturer dropped after its October third-quarter earnings report, when revenue from its commercial engines segment and its defense and propulsion segment fell short.
Since the April spin-off of GE Vernova, GE Aerospace’s shares have increased in value by about a third.
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