GE cutting 12K jobs from Power unit to reduce structural costs

GE cutting 12K jobs from Power unit to reduce structural costs

American Elec Pwr Inc now has $37.74 billion valuation. The stock increased 0.37% or $0.0656 during the last trading session, reaching $17.7256.

The company said Thursday that the cuts to both office and production jobs, will help "right-size" GE Power in a traditional power markets that is being upended globally. It has underperformed by 21.16% the S&P500.

Among 5 analysts covering Canadian Reit (TSE:REF.UN), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. (NYSE:AEP) has "Buy" rating given on Tuesday, August 18 by Mizuho. The stock has "Sector Perform" rating by Scotia Capital on Friday, November 4. The firm has "Sell" rating by Deutsche Bank given on Monday, September 11. The rating was maintained by Robert W. Baird on Friday, November 17 with "Buy".

Blackrock International Growth & Income Trust (NYSE:BGY) institutional sentiment decreased to 0.7 in 2017 Q2. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. It turned negative, as 85 investors sold GE shares while 816 reduced holdings. 72 funds opened positions while 245 raised stakes. American Electric Power Company Inc has a 52 week low of $57.89 and a 52 week high of $71.94. Gofen Glossberg Llc Il holds 2.02% or 1.96M shares. Moreover, Commerce Bancorporation has 0.03% invested in American Electric Power Company, Inc.

General Electric Company's insider ownership stands at 0.08 percent, while its insider transaction is 86.82 percent.

Today we are spotlighting shares of NRG Metals Inc. Cardinal Capital Management holds 1.26% of its portfolio in General Electric Company (NYSE:GE) for 460,440 shares. Union National Bank & Trust reported 152,694 shares.

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General Electric Company (NYSE:GE) has shown an EPS growth of -4.10% in the last 5 years and sales growth of -3.30% for the same year while for the next 5 years; the EPS growth estimates 13.00%.Along with this Sales growth yoy (quarter over quarter) was considered as 14.40%. State Farm Mutual Automobile Ins Com reported 1.6% stake. (NYSE:AEP). Spirit Of America Mgmt reported 7,920 shares. Exxonmobil Invest Mngmt Tx reported 1.67M shares. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.59 per share.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. In the a year ago there have been a total of 15 insider trades, including 0 open market buys and 15 sells. GE's profit will be $2.43B for 15.77 P/E if the $0.28 EPS becomes a reality. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06).

Verition Fund Management Llc increased Axis Capital Holdings Ltd (NYSE:AXS) stake by 4,939 shares to 11,262 valued at $728,000 in 2017Q2.

Crow Point Partners Llc, which manages about $937.00M and $607.94 million US Long portfolio, upped its stake in Spark Energy Inc. Alphabet Inc was raised too. The C-Score of General Electric Company (NYSE:GE) is 5.00000. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm has "Underweight" rating given on Wednesday, November 1 by JP Morgan.

GE is by far the worst-performing stock in the Dow this year, down 44%, and CEO John Flannery, who took over in August, has been trying to slash costs. CFRA has "Hold" rating and $2700 target. The stock has "Buy" rating by Guggenheim on Tuesday, September 8. The stock presently has an average rating of "Hold" and a consensus price target of $73.91. Telsey Advisory Group maintained Comcast Corporation (NASDAQ:CMCSA) on Tuesday, January 24 with "Outperform" rating.

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