General Electric Beats by a Penny (Update 1)

BernsteinResearch analyst Steven Winoker rates General Electric ⿿Outperform,⿝ with a $22 price target, and said on Friday morning that ⿿this quarter is a mixed bag for investors,⿝ while Bernstein⿿s ⿿two most important investment issues (dividend, orders) continue to progress positively: industrial orders are trending up and we even heard of ⿿positive pricing⿿⿝.

Winoker added that GE capital was continuing ⿿to improve, including higher levels of Tier 1 Common Capital which continue to set it up for a dividend to the parent.⿝

On the negative side, the analyst said ⿿it appears that lower tax rate and provisioning supported the [earnings estimate] beat,⿝ and that ⿿taking a strict view even on just the tax rate, we could easily interpret the ⿿clean number⿿ as more of a miss relative to our expectations.⿝

GE's shares closed at $19.14 Thursday, and are up 8% year to date.

The shares trade for 11 times the consensus 2013 EPS estimate of $1.76. The consensus 2012 EPS estimate is $1.54.

Based on a 17-cent quarterly payout, the shares have a dividend yield of 3.55%.

Interested in more on General Electric? See TheStreet Ratings' report card for this stock.

-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

« First ‹ Previous 1 2