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Company Update: General Electric Company (NYSE:GE) – Czech lender GE Money reveals IPO price range and renamed MONETA

[Reuters] – Czech lender GE Money Bank set the price range for its initial public offering at below market expectations on Monday and said it would change its name to MONETA Money Bank. GE Money, which is being divested by GE as the U.S. group moves away from financial activities, said the price range would be 68-85 crowns per share, valuing the lender at 34.75-43.43 billion Czech crowns ($1.5-1.8 billion). Analysts had estimated the value set by the IPO of the sixth biggest lender in the Czech Republic by assets at 40-60 billion crowns when it announced its intention to float on April 11. Read more on this. General Electric Company (GE) , valued at $284.64B, finished at $30.76. Looking at the stock, its one day range is $30.61 to $30.86 with a trailing 52-week range being $19.37 to $32.05. GE shares are currently priced at 20.51x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.44x earnings multiple. The company pays shareholders $0.92 per share annually in dividends, yielding 2.99%. According to a consensus of 14 analysts, the earnings estimate of $0.28 per share would be $0.03 worse than the year-ago quarter and a $0.07 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.50 is a $0.19 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $31.98 Billion. If reported, that would be a 7.82% increase over the year-ago quarter. In terms of ratings, Bernstein downgraded GE from Outperform to Mkt Perform (Apr 4, 2016). Previously, UBS Initiated GE at to Buy. Given all the information above, we should disclose to readers that the average price target is $33.08, which is 7.54% above than it opened this morning. See more in (NYSE:GE) Similar Articles: Stock Update: General Electric Company (NYSE:GE) – Diversified Machinery Equities Technical Briefing — General Electric, Danaher, Honeywell Intl., and 3M Co. Stock Update: General Electric Company (NYSE:GE) – General Electric to move headquarters to Boston – report Market Update: General Electric Company (NYSE:GE) – Execution on Divestiture Plan Continues – Report on General Electric
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