It’s been a dramatic few months for General Electric, a stock that is simultaneously one of the most widely held and widely hated stocks on Wall Street.
Five reasons to buy GE stock Big one-time charges: The big news this week was negativity around GE’s surprise announcement it will have negative cash flow in 2019. However, there are big one-time charges associated with structural accounting changes such as the treatment of intercompany receivables and inventory finance, as well as restructuring in its power segment.
Short-term momentum: Adding to the idea that there’s a value play is the recent uptrend in GE stock from its December pricing of under $7 a share, the lowest level since the financial crisis. Shares are up more than 40% since bottoming in late 2018, and more importantly haven’t been under $9 since January, including after this week’s significant move down on cash-flow guidance.
Disappointing numbers: Wall Street has good reason to doubt GE, too, after two mammoth earnings misses. In late October, the company missed on both the top and the bottom lines as it swung to a surprise loss. Then in January, it missed on the bottom line again and saw its power segment’s revenue plummet 25%. If you’ve been watching GE long enough, you know that it can, and often will, get worse.
Source: Energy Industry News (energyindustrynews.net)
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