- General Electric reports first-quarter operating earnings per share of 34 cents.
- Analysts were expecting EPS of 33 cents.
- GE Capital earnings rise 10% sequentially.
BernsteinResearch analyst Steven Winoker rates General Electric â¿¿Outperform,â¿ with a $22 price target, and said on Friday morning that â¿¿this quarter is a mixed bag for investors,â¿ while Bernsteinâ¿¿s â¿¿two most important investment issues (dividend, orders) continue to progress positively: industrial orders are trending up and we even heard of â¿¿positive pricingâ¿¿â¿. Winoker added that GE capital was continuing â¿¿to improve, including higher levels of Tier1 Common Capital which continue to set it up for a dividend to the parent.â¿ On the negative side, the analyst said â¿¿it appears that lower tax rate and provisioning supported the
earnings estimate beat,â¿ and that â¿¿taking a strict view even on just the tax rate, we could easily interpret the â¿¿clean numberâ¿¿ as more of a miss relative to our expectations.â¿ 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.