We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
General Electric (GE) Arm Wins Wind Turbine Deal From OX2
Read MoreHide Full Article
General Electric Company’s (GE - Free Report) business unit GE Renewable Energy yesterday announced that it has secured an onshore wind turbine contract from OX2 for the Klevberget wind farm in Ånge, Sweden. The financial terms of the contract have been kept under wraps.
General Electric’s share price gained 2.9% yesterday, eventually closing the trading session at $94.65.
Inside the Headlines
Per the latest deal, General Electric will produce, supply and install 24 Cypress wind turbine units at the Klevberget wind farm. The turbines carrying a rotor diameter of 158m will operate at 6.1 MW. The company will work on installing these turbines at the wind farm, which will have an installed capacity of 146 MW. It expects the installation process of the Cypress turbines to start in the second quarter of 2023 and the turbines to get operational in the second half of 2023. Also, General Electric will be responsible for providing operational service in the facility for 35 years.
General Electric’s state-of-the-art Cypress onshore wind turbines will help OX2 cater to consumers’ growing requirements of renewable and sustainable energy in Sweden. Featuring an improved level of annual energy production, the company’s Cypress onshore wind platform will help OX2 reduce the cost of energy. The latest pact is built on a strong collaboration between both companies. This marks the company’s fifth project with OX2 related to the Cypress onshore wind platform.
It’s worth noting that the latest development is based on the success and growing popularity of the company’s Cypress line of turbines in the global market since its introduction in 2017. The company has secured in excess of 7 GW of orders for its Cypress turbines to date in several countries throughout the world.
Separately, GE Renewable Energy’s business unit, Grid Solutions, unveiled the 420 kV g3 circuit-breaker prototype for gas insulated substations. GE’s g3 circuit-breaker is anticipated to be available in the market in 2023.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $104.3-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company stands to benefit from its portfolio-restructuring plans, expansion in the digital business, product innovation and efforts to deleverage the balance sheet in the quarters ahead. However, supply-chain constraints and inflationary pressure might adversely impact its near-term performance.
Image Source: Zacks Investment Research
In the past three months, General Electric’s share price has gained 0.2% against the industry’s decline of 8.7%.
In the past 30 days, the Zacks Consensus Estimate for the company’s 2022 earnings has decreased from $3.44 to $3.23, owing to four downward estimate revisions versus none upward.
Griffon’s earnings estimates increased 9% for fiscal 2022 (ending September 2022) in the past 30 days. GFF’s shares have lost 25.4% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have been stable for 2022. FELE’s shares have lost 9.3% in the past three months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 35.1%, on average.
Carlisle’s earnings estimates have been stable for 2022 in the past 30 days. CSL’s shares have gained 2.1% in the past three months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
General Electric (GE) Arm Wins Wind Turbine Deal From OX2
General Electric Company’s (GE - Free Report) business unit GE Renewable Energy yesterday announced that it has secured an onshore wind turbine contract from OX2 for the Klevberget wind farm in Ånge, Sweden. The financial terms of the contract have been kept under wraps.
General Electric’s share price gained 2.9% yesterday, eventually closing the trading session at $94.65.
Inside the Headlines
Per the latest deal, General Electric will produce, supply and install 24 Cypress wind turbine units at the Klevberget wind farm. The turbines carrying a rotor diameter of 158m will operate at 6.1 MW. The company will work on installing these turbines at the wind farm, which will have an installed capacity of 146 MW. It expects the installation process of the Cypress turbines to start in the second quarter of 2023 and the turbines to get operational in the second half of 2023. Also, General Electric will be responsible for providing operational service in the facility for 35 years.
General Electric’s state-of-the-art Cypress onshore wind turbines will help OX2 cater to consumers’ growing requirements of renewable and sustainable energy in Sweden. Featuring an improved level of annual energy production, the company’s Cypress onshore wind platform will help OX2 reduce the cost of energy. The latest pact is built on a strong collaboration between both companies. This marks the company’s fifth project with OX2 related to the Cypress onshore wind platform.
It’s worth noting that the latest development is based on the success and growing popularity of the company’s Cypress line of turbines in the global market since its introduction in 2017. The company has secured in excess of 7 GW of orders for its Cypress turbines to date in several countries throughout the world.
Separately, GE Renewable Energy’s business unit, Grid Solutions, unveiled the 420 kV g3 circuit-breaker prototype for gas insulated substations. GE’s g3 circuit-breaker is anticipated to be available in the market in 2023.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $104.3-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company stands to benefit from its portfolio-restructuring plans, expansion in the digital business, product innovation and efforts to deleverage the balance sheet in the quarters ahead. However, supply-chain constraints and inflationary pressure might adversely impact its near-term performance.
Image Source: Zacks Investment Research
In the past three months, General Electric’s share price has gained 0.2% against the industry’s decline of 8.7%.
In the past 30 days, the Zacks Consensus Estimate for the company’s 2022 earnings has decreased from $3.44 to $3.23, owing to four downward estimate revisions versus none upward.
Stocks to Consider
Some better-ranked companies are discussed below.
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank #1 (Strong Buy). It delivered a four-quarter earnings surprise of 56.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Griffon’s earnings estimates increased 9% for fiscal 2022 (ending September 2022) in the past 30 days. GFF’s shares have lost 25.4% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have been stable for 2022. FELE’s shares have lost 9.3% in the past three months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 35.1%, on average.
Carlisle’s earnings estimates have been stable for 2022 in the past 30 days. CSL’s shares have gained 2.1% in the past three months.