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Stock Update (NYSE:GE): Demand for Fast Power Heats Up in the Saudi Desert: Saudi Electricity Company Orders Six More GE Gas Turbines

[Business Wire] – Saudi Electricity Company has ordered six GE trailer-mounted, fast-starting TM2500+ aeroderivative mobile gas turbine packages for existing power plant locations in Jizan and Tabouk to meet the fast growing demands in these areas. Read more on this. General Electric Company (GE) , valued at $265.82B, started the session at $27.75. A quick look at the market, the company’s stock traded between $27.75 and $28.31 with a one year range of $19.37 to $31.49. GE shares are currently priced at 18.66x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 13.81x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $0.92 per share annually in dividends, yielding 3.22%. In a review of the consensus earnings estimate this quarter, 13 sell-side analysts are looking at $0.19 per share, which would be $0.01 worse than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $1.51 is a $0.20 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $28.10 Billion. If realized, that would be a 4.29% decrease over the year-ago quarter. Recently, UBS Initiated GE at Buy (Jan 22, 2015). Previously, RBC Capital Mkts Initiated GE at to Outperform. The average price target for GE shares by the analysts covering it is $32.29, which is 16.36% above where the stock opened. See more in (NYSE:GE) Similar Articles: Market Update (NYSE:GE): Combination of GE and Alstom Technology Proves Powerful: Pakistan Advances with Third High-Efficiency HA Gas Power Plant Stock Update: General Electric Company (NYSE:GE) – From Bhikki to Balloki: GE and Harbin to Deliver Second High-Efficiency HA Gas Power Plant for Pakistan Stock Update: General Electric Company (NYSE:GE) – GE to Invest Up to $1 Billion in Indonesia’s Power, Oil and Gas, and Healthcare Sectors to Help Accelerate Infrastructure Growth
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