- 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 Tier 1 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.