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GE Vernova (GEV) Dips More Than Broader Market: What You Should Know
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In the latest trading session, GE Vernova (GEV - Free Report) closed at $959.36, marking a -1.06% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.74%. At the same time, the Dow lost 1.21%, and the tech-heavy Nasdaq lost 0.89%.
The the energy business spun off from General Electric's stock has dropped by 11.46% in the past month, falling short of the Oils-Energy sector's loss of 2.67% and the S&P 500's gain of 5.39%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company's upcoming EPS is projected at $3.01, signifying a 61.83% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.8 billion, indicating a 18.49% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $30.41 per share and revenue of $45.32 billion, which would represent changes of +71.91% and +19.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for GE Vernova. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. GE Vernova currently has a Zacks Rank of #3 (Hold).
Looking at valuation, GE Vernova is presently trading at a Forward P/E ratio of 31.89. This denotes a premium relative to the industry average Forward P/E of 17.54.
It is also worth noting that GEV currently has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 2.3 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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GE Vernova (GEV) Dips More Than Broader Market: What You Should Know
In the latest trading session, GE Vernova (GEV - Free Report) closed at $959.36, marking a -1.06% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.74%. At the same time, the Dow lost 1.21%, and the tech-heavy Nasdaq lost 0.89%.
The the energy business spun off from General Electric's stock has dropped by 11.46% in the past month, falling short of the Oils-Energy sector's loss of 2.67% and the S&P 500's gain of 5.39%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company's upcoming EPS is projected at $3.01, signifying a 61.83% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.8 billion, indicating a 18.49% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $30.41 per share and revenue of $45.32 billion, which would represent changes of +71.91% and +19.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for GE Vernova. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. GE Vernova currently has a Zacks Rank of #3 (Hold).
Looking at valuation, GE Vernova is presently trading at a Forward P/E ratio of 31.89. This denotes a premium relative to the industry average Forward P/E of 17.54.
It is also worth noting that GEV currently has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 2.3 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.