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General Electric Arm Wins Wind Turbine Deal From Invenergy
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General Electric Company’s (GE - Free Report) business unit, GE Renewable Energy, recently clinched a contract from Invenergy to deliver its state-of-the-art 2 MW wind turbines. Financial terms of the deal have been kept under wraps.
Invenergy is engaged in developing and controlling several renewable energy generation and storage facilities in the Europe, the Americas and Asia.
Inside the Headlines
Per the contract, GE Renewable Energy will supply 187 units of onshore wind turbines for Invenergy’s three wind farms. It will deliver 54 units of 2.X-127 turbines at the 110 MW Crescent Wind Energy Center, based in Michigan. Also, 30 units of 2.X-127 and 6 units of 2.X-116 turbines will be supplied at the 166 MW Contrail Wind Energy Center, located in Iowa. Additionally, 97 units of 2.X-127 turbines will be delivered at the 300 MW Deuel Harvest Wind Energy Center, situated in South Dakota. The commercial operation of these three projects is likely to commence by next year’s first quarter or earlier.
The latest deal marks the growing popularity of General Electric’s advanced 2 MW product platform, which has a total installed capacity in excess of 15 GW. Featuring an improved level of annual energy production, the company’s 2.X-127 onshore wind turbines help its customers to reduce cost of energy with low and medium wind speed sites. As a matter of fact, the company’s advanced 2 MW turbines will help Invenergy in bringing clean and renewable energy to the grid.
It’s worth mentioning here that in 2019, the company supplied impressive amount of turbine capacity in the United States, accounting for 45% of total onshore wind additions in the country.
GE Renewable Energy has successfully clinched several contracts recently. Some notable ones include a contract to supply onshore wind turbines in Morocco and a turbine-capacity contract from Megha Engineering and Infrastructure Limited in India. In addition, it received an onshore wind contract from PÜSPÖK Group in Austria.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $53.5 billion market capitalization, currently carries a Zacks Rank #4 (Sell). The company remains wary of the impact of the pandemic-related uncertainties on its operations — especially Healthcare, Aviation and Power — for the rest of this year.
In the past three months, its share price has decreased 8.5% against the industry’s growth of 10%.
In the past 60 days, the Zacks Consensus Estimate for the company’s bottom line for 2020 has gone down from a penny to a loss of 5 cents, owing to five downward estimate revisions versus one upward. Also, the consensus estimate for its earnings for 2021 has gone down from 36 cents to 29 cents due to six downward estimate revision versus none upward.
Stocks to Consider
Some better-ranked stocks from the same space are Griffon Corporation (GFF - Free Report) , HC2 Holdings, Inc. and Danaher Corporation (DHR - Free Report) . While Griffon sports a Zacks Rank #1 (Strong Buy), HC2 Holdings and Danaher carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Griffon delivered a positive earnings surprise of 117.00%, on average, in the trailing four quarters.
HC2 Holdings delivered a positive earnings surprise of 41.91%, on average, in the trailing four quarters.
Danaher delivered a positive earnings surprise of 10.83%, on average, in the trailing four quarters.
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General Electric Arm Wins Wind Turbine Deal From Invenergy
General Electric Company’s (GE - Free Report) business unit, GE Renewable Energy, recently clinched a contract from Invenergy to deliver its state-of-the-art 2 MW wind turbines. Financial terms of the deal have been kept under wraps.
Invenergy is engaged in developing and controlling several renewable energy generation and storage facilities in the Europe, the Americas and Asia.
Inside the Headlines
Per the contract, GE Renewable Energy will supply 187 units of onshore wind turbines for Invenergy’s three wind farms. It will deliver 54 units of 2.X-127 turbines at the 110 MW Crescent Wind Energy Center, based in Michigan. Also, 30 units of 2.X-127 and 6 units of 2.X-116 turbines will be supplied at the 166 MW Contrail Wind Energy Center, located in Iowa. Additionally, 97 units of 2.X-127 turbines will be delivered at the 300 MW Deuel Harvest Wind Energy Center, situated in South Dakota. The commercial operation of these three projects is likely to commence by next year’s first quarter or earlier.
The latest deal marks the growing popularity of General Electric’s advanced 2 MW product platform, which has a total installed capacity in excess of 15 GW. Featuring an improved level of annual energy production, the company’s 2.X-127 onshore wind turbines help its customers to reduce cost of energy with low and medium wind speed sites. As a matter of fact, the company’s advanced 2 MW turbines will help Invenergy in bringing clean and renewable energy to the grid.
It’s worth mentioning here that in 2019, the company supplied impressive amount of turbine capacity in the United States, accounting for 45% of total onshore wind additions in the country.
GE Renewable Energy has successfully clinched several contracts recently. Some notable ones include a contract to supply onshore wind turbines in Morocco and a turbine-capacity contract from Megha Engineering and Infrastructure Limited in India. In addition, it received an onshore wind contract from PÜSPÖK Group in Austria.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $53.5 billion market capitalization, currently carries a Zacks Rank #4 (Sell). The company remains wary of the impact of the pandemic-related uncertainties on its operations — especially Healthcare, Aviation and Power — for the rest of this year.
In the past three months, its share price has decreased 8.5% against the industry’s growth of 10%.
In the past 60 days, the Zacks Consensus Estimate for the company’s bottom line for 2020 has gone down from a penny to a loss of 5 cents, owing to five downward estimate revisions versus one upward. Also, the consensus estimate for its earnings for 2021 has gone down from 36 cents to 29 cents due to six downward estimate revision versus none upward.
Stocks to Consider
Some better-ranked stocks from the same space are Griffon Corporation (GFF - Free Report) , HC2 Holdings, Inc. and Danaher Corporation (DHR - Free Report) . While Griffon sports a Zacks Rank #1 (Strong Buy), HC2 Holdings and Danaher carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Griffon delivered a positive earnings surprise of 117.00%, on average, in the trailing four quarters.
HC2 Holdings delivered a positive earnings surprise of 41.91%, on average, in the trailing four quarters.
Danaher delivered a positive earnings surprise of 10.83%, on average, in the trailing four quarters.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>