Market Update: General Electric Company (NYSE:GE) – Mabe seeks creditor consents on GE sale

[Reuters] – Mexico’s white goods manufacturer Mabe is asking holders of its 7.875% 2019s to amend change of control clauses following the announcement of JV partner GE’s planned sale of its appliance business to China’s Qingdao Haier. General Electric announced earlier this month that it would sell its appliance business to Qingdao Haier for US$5.4bn in cash. The deal includes GE Appliances’ 48.4% stake in Mabe, which has a joint venture with GE. Read more on this. General Electric Company (GE) , valued at $268.32B, began trading this morning at $28.06. During the trading session, GE traded between $28.06 to $28.46 and has traded between $19.37 and $31.49 over the past year. Priced at 18.69x this year’s forecasted earnings, GE shares are relatively expensive compared to the industry ’s 14.10x forward p/e ratio. And for passive income investors, the company pays shareholders $0.92 per share annually in dividends, yielding 3.26%. According to a consensus of 12 analysts, the earnings estimate of $0.22 per share would be $0.02 better than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $1.50 which would be a $0.19 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $28.95 Billion. If realized, that would be a 1.40% decrease over the year-ago quarter. In terms of ratings, UBS Initiated GE at Buy (Jan 22, 2015). Previously, RBC Capital Mkts Initiated GE at to Outperform. The average price target for GE shares is $32.29, which is 15.07% above where the stock opened this morning. See more in (NYSE:GE) Similar Articles: Market Update: General Electric Company (NYSE:GE) – Execution on Divestiture Plan Continues – Report on General Electric Company Update: General Electric Company (NYSE:GE) – Alstom closes sale of energy business to GE Market Update: General Electric Company (NYSE:GE) – Poland’s PZU says General Electric may sell Bank BPH this year
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