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 Clinches VSDS Contract From Safran
Read MoreHide Full Article
General Electric Company’s (GE - Free Report) business unit GE Power Conversion yesterday announced that it has secured a contract from Safran Aero Boosters to deliver an electrical Variable Speed Drive System (VSDS).
The company’s share price inched up 0.2% yesterday to eventually close the trading session at $92.45.
Inside the Headlines
Per the contract, the company’s electrical VSDS will be used for an airplane motor compressor test bench at Safran’s new aerodynamics test center BeCOVER, which is under the development stage in Liege, Belgium. It’s worth noting that the deal also involves the installation and commissioning of the electrical system.
Featuring two MV7315 drives, a 30 MW induction motor and related auxiliary equipment, the company’s electrical system will facilitate BeCOVER in testing several types of advanced compressors for military and civil aircraft engines. This will help Safran enhance the technical capabilities and operational efficiency of the BeCOVER test bench.
This latest project is a testimony to the growing popularity of General Electric’s MV7000 drives systems developed for wide-ranging applications in the research and test industry.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $101.6-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is well-positioned 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 GE’s performance in the near term.
Image Source: Zacks Investment Research
In the past three months, General Electric’s share price has gained 0.4% against the industry’s decline of 12.8%.
In the past 30 days, the Zacks Consensus Estimate for the company’s 2022 earnings has decreased from $3.42 to $3.32, owing to three downward estimate revisions versus one upward. Also, the consensus estimate for its 2023 earnings has gone down from $5.05 to $4.99 due to three downward estimate revisions against one upward.
Key Picks
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.
Griffon’s earnings estimates increased 9% for fiscal 2022 (ending September 2022) in the past 30 days. GFF’s shares have lost 16.5% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently flaunts a Zacks Rank #1. 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 raised 10.9% for 2022. FELE’s shares have lost 11% in the past three months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 35.1%, on average.
Carlisle’s earnings estimates have increased 8.9% for 2022 in the past 30 days. CSL’s shares have lost 2.4% 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 Clinches VSDS Contract From Safran
General Electric Company’s (GE - Free Report) business unit GE Power Conversion yesterday announced that it has secured a contract from Safran Aero Boosters to deliver an electrical Variable Speed Drive System (VSDS).
The company’s share price inched up 0.2% yesterday to eventually close the trading session at $92.45.
Inside the Headlines
Per the contract, the company’s electrical VSDS will be used for an airplane motor compressor test bench at Safran’s new aerodynamics test center BeCOVER, which is under the development stage in Liege, Belgium. It’s worth noting that the deal also involves the installation and commissioning of the electrical system.
Featuring two MV7315 drives, a 30 MW induction motor and related auxiliary equipment, the company’s electrical system will facilitate BeCOVER in testing several types of advanced compressors for military and civil aircraft engines. This will help Safran enhance the technical capabilities and operational efficiency of the BeCOVER test bench.
This latest project is a testimony to the growing popularity of General Electric’s MV7000 drives systems developed for wide-ranging applications in the research and test industry.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $101.6-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is well-positioned 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 GE’s performance in the near term.
Image Source: Zacks Investment Research
In the past three months, General Electric’s share price has gained 0.4% against the industry’s decline of 12.8%.
In the past 30 days, the Zacks Consensus Estimate for the company’s 2022 earnings has decreased from $3.42 to $3.32, owing to three downward estimate revisions versus one upward. Also, the consensus estimate for its 2023 earnings has gone down from $5.05 to $4.99 due to three downward estimate revisions against one upward.
Key Picks
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 16.5% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently flaunts a Zacks Rank #1. 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 raised 10.9% for 2022. FELE’s shares have lost 11% in the past three months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 35.1%, on average.
Carlisle’s earnings estimates have increased 8.9% for 2022 in the past 30 days. CSL’s shares have lost 2.4% in the past three months.