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GE enjoys undramatic profits, backed by free cash flow

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General Electric

Finally gaining momentum. The popular company posted better-than-expected earnings, with little drama, final week. GE exceeded estimates and raised packed-year free cash flow guidance for industrial operations to a midpoint of about $4.3 billion, $800 million from the previous guidance. The stock, at $12.95, is up 2% for the week and 20% this year. the

Standard & Poor’s 500

The index rose by 17% in 2021.

Larry Kolb was hired in late 2018 to replace then-strapped General Electric. Free industrial cash flow generated from 2018 to 2020 was $1.7 billion, down from an approximate average of $12 billion in 2015 to 2016. During the pandemic, cash flow has fallen to about $600 million. “[Free cash flow] Installed for investors ever since [Culp] took over, and for obvious reasons…. It was appalling,” Melius analyst Scott Davis wrote. He described the unused guidance as “an distinguished and decisive positive.” RBC’s Deane Dray said in a note, “GE’s North Star continues to improve.” [cash flow]. He valued GE stock with a target price of $16.

Nicholas Heyman, another bull, William Blair, praised GE’s “steady sequential improvement across virtually all major companies and metrics”. He sees a 30% upside potential for the stock and rates it as a purchase, but has not posted a price target. However, a 30% acquire would put it in the $17 range.

Not everyone is confident. Wall Street’s average target is $14.68.

Oppenheimer‘s

Christopher Glenn has evaluated the shares held, also without a target price. However, he sees positive changes in General Electric. Suddenly it became firm to find bears at General Electric. About 67% of analysts are buying its stock, versus the average S&P 500 buying share of 55%. Nobody says sell.

next week

Monday 8/2

CNA FinanceAnd

GlobalPayments,

JELD-WEN HoldingsAnd

LowesAnd

Arista NetworksAnd

Legit and PlattAnd

Vornado Realty TrustAnd

ZoomInfo Technologies, Woodward,

Take-Two Interactive ProgramAnd

Heineken, Trex, Ferrari,

Ultra pure collectiblesAnd

And

Simon Real Estate Group

Financial results are expected to be announced.

Supply Institute The administration releases the manufacturing PMI for the month of July. The consensus estimate is for a reading of 60.8, up from 60.6 in June.

Census office Construction spending reports for June. Expectations are for a 0.4% month-on-month rise, following a 0.3% decline in May.

Tuesday 8/3

Eaton, BP,

under the shieldAnd

LiftAnd

CloroxAnd

AmgenAnd

Akamai TechniquesAnd

latency

Eli LillyAnd

Alibaba Holding GroupAnd

Nicola, EnPro Industries,

Warner Music GroupAnd

Pitney BowesAnd

Tennant,

Philips 66And

KKRAnd

GartnerAnd

Henry ShinAnd

Dun & Bradstreet HoldingsAnd

Conoco

Philips and

Jacobs engineering group

Host conference calls to discuss financial results.

Census office Factory orders are scheduled for June. Economists expect orders to rise 1.0% during the month, compared to a rise of 1.7% in May.

Wednesday 8/4

Sony groupAnd

CVS HealthAnd

Kraft Heinz, Softbank,

General motorsAnd

gradual,

EtsyAnd

electronic artsAnd

Western DigitalAnd

Uber TechnologiesAnd

Rocco

MGM Resorts InternationalAnd

Fox and Re/Max Holdings are expected to host the earnings calls.

Economics office Analytics indicates light vehicle sales for the month of July. Forecasts point to a seasonally adjusted annual rate of 15.3 million vehicles, compared to 15.4 million in June.

ISM versions Service PMI for the month of July. The consensus estimate is for a reading of 60.8, compared to 60.1 in June.

ADP versions National Employment Report for the month of July. Consensus estimates point to an increase of 635,000 in private non-farm employment, following an increase of 692,000 in June.

Thursday 8/5

Zillow GroupAnd

Beyond MeatAnd

howlingAnd

Weaver, Kellogg,

bayerAnd

Hanes Brands, Moderna,

Regeneron PharmaceuticalsAnd

keys

Cushman & WakefieldAnd

ViacomCBSAnd

CignaAnd

Duke EnergyAnd

Boxes,

News CorpAnd

And

Siemens

It is expected to report financial results.

Friday 6/8

BLS releases jobs reportfor the month of July. Economists expect an 800,000 rise in nonfarm payrolls, following a 850,000 increase in June. The unemployment rate is expected to fall to 5.8% from 5.9%.

kingsAnd

Dominion EnergyAnd

Jeanette

Characteristics of MGM GrowthAnd

AMC NetworksAnd

canopy growthAnd

Tripadvisor,

Spectrum BrandsAnd

Scripps Electronic WarfareAnd

Cinemark Holdings and Manitowoc are hosting conference calls to discuss financial results.

write to Roots at allen.root@dowjones.com

Referensi: www.barrons.com

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