General Electric Higher Ahead of Earnings

Published on Thursday, 20 October 2011 10:56 Written by Christopher Lynn

New York, October 20th (TradersHuddle.com) - Shares of General Electric Co. (NYSE:GE) are trading higher by +0.49% ahead of its quarterly earnings release. General Electric, the maker of wind turbines and energy efficient locomotives is expected to release its quarterly results on October 21^st.

Wall Street Analysts consensus calls for a profit of $0.31 a share on $34.86 billion revenue.

General Electric estimates have a range of $0.04 a share. The high estimate calls for profit of $0.33 a share and the low estimate is calling for a profit of $0.29 a share, a year ago for the quarter the company reported $0.28 a share.

General Electric Company (NYSE:GE) is a diversified technology, media, and financial services company. The diversified corporation offers products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content, and industrial products. General Electric conducts operations globally and its consider a belweather of the U.S. economy as it participates in so many segments of the economy. GE was founded in 1892 and is based in Fairfield, Connecticut.

Other companies on the watch on this earnings event are and 3M Company NYSE:MMM.

Last week, Barclays initiated its coverage on GE with Overweight and a target price of $20 per share.