GE Stock Price Forecast: General Electric Company continues its recovery and gains on dividend announcement
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NYSE:GE added 2.05% on Tuesday amidst another unsettled day for the broader markets.
- On Friday, General Electric announced a 1% dividend for shareholders.
- Wall Street analysts continue to add bullish sentiment to the iconic conglomerate.
It took an entire year, but NYSE:GE has finally recovered to its pre-pandemic price levels and Wall Street is becoming increasingly bullish on the nearly 130-year old company. On Tuesday, the stock gained 2.05% to close the trading session at $11.97, even as the broader markets remained rocky and ended the day in the red. Shares are now within reach of the 52-week high price of $12.95, a level which has not been seen since January of 2020. The stock is still down 8% over that period, compared to a return of 16.75% by the S&P 500 index.
On Friday, General Electric happily announced a quarterly dividend for its shareholders, another sign that companies are seeing the light at the end of the COVID-19 tunnel. While the dividend is small at just $0.01 per share, it represents a confirmation of General Electric’s forecast of being free-cash flow positive for 2021. Recently, GE CEO Lawrence Culp stated that Q1 of 2021 would still see negative free-cash flow, the rest of the year looks brighter, especially as the dormant aviation sector of General Electric starts up again.
GE stock dividend news
The recent performance of General Electric even has some long-timer bearish analysts raising their eyebrows. A long-time GE analyst from JPMorgan has finally agreed that the strides that Culp and company have taken are positive and that General Electric is in a much better position than a few years ago. It still isn’t enough to raise the price target of $5.00, nor raise his rating to a buy, but anything remotely positive is an improvement.
- NYSE:GE added 2.05% on Tuesday amidst another unsettled day for the broader markets.
- On Friday, General Electric announced a 1% dividend for shareholders.
- Wall Street analysts continue to add bullish sentiment to the iconic conglomerate.
It took an entire year, but NYSE:GE has finally recovered to its pre-pandemic price levels and Wall Street is becoming increasingly bullish on the nearly 130-year old company. On Tuesday, the stock gained 2.05% to close the trading session at $11.97, even as the broader markets remained rocky and ended the day in the red. Shares are now within reach of the 52-week high price of $12.95, a level which has not been seen since January of 2020. The stock is still down 8% over that period, compared to a return of 16.75% by the S&P 500 index.
On Friday, General Electric happily announced a quarterly dividend for its shareholders, another sign that companies are seeing the light at the end of the COVID-19 tunnel. While the dividend is small at just $0.01 per share, it represents a confirmation of General Electric’s forecast of being free-cash flow positive for 2021. Recently, GE CEO Lawrence Culp stated that Q1 of 2021 would still see negative free-cash flow, the rest of the year looks brighter, especially as the dormant aviation sector of General Electric starts up again.
GE stock dividend news
The recent performance of General Electric even has some long-timer bearish analysts raising their eyebrows. A long-time GE analyst from JPMorgan has finally agreed that the strides that Culp and company have taken are positive and that General Electric is in a much better position than a few years ago. It still isn’t enough to raise the price target of $5.00, nor raise his rating to a buy, but anything remotely positive is an improvement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.