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GE Inks Deal With PARF to Expand Foothold in Australia
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Industrial goods manufacturer — General Electric Company (GE - Free Report) — recently entered into an agreement with the Powering Australian Renewables Fund (“PARF”). Per the deal, General Electric will supply and install 123 wind turbines at Australia's largest wind farm.
PARF is a strategic partnership created by AGL Energy Limited and Queensland Investment Corporation to develop, own and manage approximately 1,000 megawatt (MW) of large-scale renewable energy infrastructure assets and projects. These projects will enable the Federal Government meet targets and spur investment and development in support of Australia’s transition to a low-carbon economy. Located 250 kilometres north west of Brisbane, Queensland, Coopers Gap Wind Farm is expected to be completed in 2019.
General Electric expects the 453 MW wind farm to produce around 1.51 million MW hours of renewable energy every year. This would be enough to power over 260,000 average Australian homes and cut CO2 emissions by 1.18 million tonnes annually.
General Electric has underperformed the industry owing to macroeconomic challenges and fluctuations in currency exchanges with an average year-to-date loss of 21.7% as against a gain of 1.7% for the latter. Although General Electric is taking prudent steps to limit its financial exposure by divesting GE Capital assets, it is still susceptible to various market risks.
The company generates solid free cash flow, which allows management the opportunity to invest in product innovations, acquisitions and business development. At the same time, the company has historically returned significant cash to its shareholders. General Electric intends to return $19–$21 billion to shareholders in 2017, including $8 billion in dividends and $11–$13 billion in share repurchases. In addition, the company expects to generate $18–21 billion in cash flow from industrial operations in 2017. All these offer a lucrative investment proposition for investors seeking to own blue-chip stocks that promise a healthy return on investment.
General Electric currently has a Zacks Rank #5 (Strong Sell). Better-ranked stocks in the industry include Honeywell International Inc. (HON - Free Report) Syntel, Inc. and ManTech International Corporation . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Honeywell has a long-term earnings growth expectation of 9.6%. It has a positive earnings surprise history with an average of 2% for the trailing four quarters, beating estimates thrice.
Syntel has long-term earnings growth expectations of 9.3%. It is currently trading at a forward P/E of 10.75x.
ManTech has long-term earnings growth expectations of 8%. It is currently trading at a forward P/E of 26.05x.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off.
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GE Inks Deal With PARF to Expand Foothold in Australia
Industrial goods manufacturer — General Electric Company (GE - Free Report) — recently entered into an agreement with the Powering Australian Renewables Fund (“PARF”). Per the deal, General Electric will supply and install 123 wind turbines at Australia's largest wind farm.
PARF is a strategic partnership created by AGL Energy Limited and Queensland Investment Corporation to develop, own and manage approximately 1,000 megawatt (MW) of large-scale renewable energy infrastructure assets and projects. These projects will enable the Federal Government meet targets and spur investment and development in support of Australia’s transition to a low-carbon economy. Located 250 kilometres north west of Brisbane, Queensland, Coopers Gap Wind Farm is expected to be completed in 2019.
General Electric expects the 453 MW wind farm to produce around 1.51 million MW hours of renewable energy every year. This would be enough to power over 260,000 average Australian homes and cut CO2 emissions by 1.18 million tonnes annually.
General Electric has underperformed the industry owing to macroeconomic challenges and fluctuations in currency exchanges with an average year-to-date loss of 21.7% as against a gain of 1.7% for the latter. Although General Electric is taking prudent steps to limit its financial exposure by divesting GE Capital assets, it is still susceptible to various market risks.
The company generates solid free cash flow, which allows management the opportunity to invest in product innovations, acquisitions and business development. At the same time, the company has historically returned significant cash to its shareholders. General Electric intends to return $19–$21 billion to shareholders in 2017, including $8 billion in dividends and $11–$13 billion in share repurchases. In addition, the company expects to generate $18–21 billion in cash flow from industrial operations in 2017. All these offer a lucrative investment proposition for investors seeking to own blue-chip stocks that promise a healthy return on investment.
General Electric currently has a Zacks Rank #5 (Strong Sell). Better-ranked stocks in the industry include Honeywell International Inc. (HON - Free Report) Syntel, Inc. and ManTech International Corporation . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Honeywell has a long-term earnings growth expectation of 9.6%. It has a positive earnings surprise history with an average of 2% for the trailing four quarters, beating estimates thrice.
Syntel has long-term earnings growth expectations of 9.3%. It is currently trading at a forward P/E of 10.75x.
ManTech has long-term earnings growth expectations of 8%. It is currently trading at a forward P/E of 26.05x.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off.
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