General Electric (GE) Q2 Was a "Clean Beat" - Oppenheimer
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Price: $368.38 +2.15%
Rating Summary:
26 Buy, 8 Hold, 1 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer commented on Outperform-rated General Electric (NYSE: GE) following Q2 results calling it a "clean beat."
GE reported Q2 EPS of $0.34, up 17% year-over-year and 2 cents above the consensus.
Commenting on the results, analyst states, "Most importantly in our view for sentiment, the quarter appears very clean and witnessed 24% Infrastructure orders growth, including 33% for equipment orders to what we estimate ~$13.4B. Industrial operating profit of $3.5B was down 3% y-o-y due to terrible backlog conversion timing at Energy (as expected), where GE guided to approximately 17% Energy unit volume growth in 2H11. Profits rose elsewhere: at Aviation (9%), Healthcare (8%), Transportation (~7x), and Oil & Gas (14%)."
Oppenheimer expects a favorable market reaction to GE's 2Q11 results.
For more ratings news on General Electric click here and for the rating history of General Electric click here.
Shares of General Electric are up 0.7% to $19.30 in pre-open trading today.
GE reported Q2 EPS of $0.34, up 17% year-over-year and 2 cents above the consensus.
Commenting on the results, analyst states, "Most importantly in our view for sentiment, the quarter appears very clean and witnessed 24% Infrastructure orders growth, including 33% for equipment orders to what we estimate ~$13.4B. Industrial operating profit of $3.5B was down 3% y-o-y due to terrible backlog conversion timing at Energy (as expected), where GE guided to approximately 17% Energy unit volume growth in 2H11. Profits rose elsewhere: at Aviation (9%), Healthcare (8%), Transportation (~7x), and Oil & Gas (14%)."
Oppenheimer expects a favorable market reaction to GE's 2Q11 results.
For more ratings news on General Electric click here and for the rating history of General Electric click here.
Shares of General Electric are up 0.7% to $19.30 in pre-open trading today.
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