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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
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General Electric : announces plans to end new-build coal power; The move comes after the US conglomerate's decision to focus on renewable sources of power generation

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09/22/2020 | 11:47am EDT

General Electric (GE) has unveiled plans to stop making new coal power plants.

The move comes as a result of the company's decision to focus on renewable sources of power generation.

The US conglomerate said the plan for the exit from the new-build coal power market may involve divestitures, site closings and job cuts as it continues to work with customers on existing obligations.

Russell Stokes, GE Senior Vice President and President and CEO of GE Power Portfolio said, "With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory.

"As we pursue this exit from the new-build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise."

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE


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Financials (USD)
Sales 2020 79 105 M - -
Net income 2020 4 424 M - -
Net Debt 2020 19 514 M - -
P/E ratio 2020 17,2x
Yield 2020 0,55%
Capitalization 64 249 M 64 249 M -
EV / Sales 2020 1,06x
EV / Sales 2021 1,03x
Nbr of Employees 205 000
Free-Float 74,3%
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Technical analysis trends GENERAL ELECTRIC COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 8,94 $
Last Close Price 7,34 $
Spread / Highest target 77,1%
Spread / Average Target 21,8%
Spread / Lowest Target -31,9%
EPS Revisions
Managers
NameTitle
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James S. Tisch Independent Director
Francisco D'Souza Independent Director
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