General Electric (GE - Free Report) closed the most recent trading day at $80.20, moving +1.7% from the previous trading session. This change outpaced the S&P 500's 0.4% gain on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.Coming into today, shares of the industrial conglomerate had gained 0.06% in the past month.
In that same time, the Conglomerates sector gained 3.28%, while the S&P 500 lost 0.01%.General Electric will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2023. The company is expected to report EPS of $1.10, up 19.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.87 billion, up 7.72% from the year-ago period.Investors should also note any recent changes to analyst estimates for General Electric.
These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank.
This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.91% lower. General Electric is currently a Zacks Rank #5 (Strong Sell).Investors should also note General Electric's current valuation metrics, including its Forward P/E ratio of 20.52.
This valuation marks a premium compared to its industry's average Forward P/E of 13.23.It is also worth noting that GE currently has a PEG ratio of 2.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.71 as of yesterday's close.The Diversified Operations industry is part of the Conglomerates sector.
This group has a Zacks Industry Rank of 207, putting it in the bottom 18% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.