What General Electric Investors Want From CEO On Thursday: Clarity

www.oann.com | 2/5/2019 | Staff
Firefang (Posted by) Level 4
NEW YORK (Reuters) – Portfolio manager Michael Kon began buying General Electric Co shares about a year ago and got more last fall after GE Chief Executive Larry Culp outlined plans to reboot the ailing power-plant unit.

“I wouldn’t say that they’ve got their arms around it,” Kon, who is also research director at investment firm value-oriented Golub Group LLC, said of the power trouble.


“But at least they’ve identified all the issues.”

Culp has a chance to attract more investors by providing greater clarity on GE’s strategy when he and other GE leaders lay out their 2019 financial forecast on Thursday.

Wall - Street - Analysts - GE - Cents

Wall Street analysts expect GE to earn 70 cents a share this year and generate $1.9 billion in free cash flow, on average, according to data from Refinitiv.

GE optimists, spurred by Culp’s actions, have fueled a 53 percent rally from the stock’s low in December. As the first outsider to head the 127-year-old conglomerate, Culp has cracked open GE’s books to more scrutiny, shaken up its board and stationed new leaders in trouble spots like power and insurance.

Culp - Skeptics - Stock - GE - Losses

But Culp still faces many skeptics who dumped the stock as GE racked up staggering losses of more than $30 billion over the last two years and cut its dividend to near zero.

The camps are unusually divided: Of 19 analysts who cover the company, nine rate its stock “hold” or “strong sell” while 10 rate it “buy” or “strong buy,” according to Refinitiv.

Views - GE

Those views did not change much even after GE...
(Excerpt) Read more at: www.oann.com
Wake Up To Breaking News!
Satan's greatest desire is to convince the world he doesn't exist, and he has quite nearly succeeded.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!