General Electric Co. has landed a $700 million contract to supply turbine and generator units for Egypt’s first nuclear power project.
GE will deliver four turbine units – reportedly one in each year from 2023 through 2026 - for Egypt’s planned 4,800 megawatt El Dabaa nuclear facility. The units will start operating at the rate of one per year from 2026 until 2029, said Michael Keroulle, chief commercial officer for GE’s Steam Power business, in a phone interview (according to Bloomberg).
The contract has been awarded to AAEM (a joint venture between GE and Russia-based Atomenergomash), which will design and deliver the turbine system for the reactor, according to GE. This would be GE’s biggest contract in the Middle East and North Africa and Turkey so far this year, according to Ahmed Ramadan, president and chief executive officer of GE North East Africa (as reported by Bloomberg). According to GE, El Dabaa will generate enough electricity to power 4 million homes.
GE saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on March 25, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 51 instances where the indicator turned negative. In of the 51 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The 10-day RSI Indicator for GE moved out of overbought territory on March 28, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 35 similar instances where the indicator moved out of overbought territory. In of the 35 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GE broke above its upper Bollinger Band on March 27, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GE advanced for three days, in of 313 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 337 cases where GE Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. GE’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (7.194) is normal, around the industry mean (4.910). P/E Ratio (22.571) is within average values for comparable stocks, (48.089). Projected Growth (PEG Ratio) (1.379) is also within normal values, averaging (2.218). Dividend Yield (0.002) settles around the average of (0.022) among similar stocks. P/S Ratio (2.913) is also within normal values, averaging (11.196).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of products for the generation, transmission, distribution, control and utilization of electricity; manufactures aircraft engines and medical equipment
Industry IndustrialMachinery