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GE Vernova (GEV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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GE Vernova (GEV - Free Report) closed at $920.15 in the latest trading session, marking a -1.47% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.26% for the day. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq decreased by 0.97%.
Shares of the the energy business spun off from General Electric have depreciated by 12.98% over the course of the past month, underperforming the Oils-Energy sector's gain of 0.73%, and the S&P 500's gain of 0.23%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company is expected to report EPS of $3.11, up 67.2% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $10.78 billion, indicating a 18.29% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $30.57 per share and revenue of $45.31 billion, indicating changes of +72.81% and +19.02%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GE Vernova. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.02% increase. GE Vernova is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, GE Vernova is currently being traded at a Forward P/E ratio of 30.55. For comparison, its industry has an average Forward P/E of 17.25, which means GE Vernova is trading at a premium to the group.
We can additionally observe that GEV currently boasts a PEG ratio of 1.7. 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 2.08 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 109, this industry ranks in the top 45% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GEV in the coming trading sessions, be sure to utilize Zacks.com.
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GE Vernova (GEV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
GE Vernova (GEV - Free Report) closed at $920.15 in the latest trading session, marking a -1.47% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.26% for the day. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq decreased by 0.97%.
Shares of the the energy business spun off from General Electric have depreciated by 12.98% over the course of the past month, underperforming the Oils-Energy sector's gain of 0.73%, and the S&P 500's gain of 0.23%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company is expected to report EPS of $3.11, up 67.2% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $10.78 billion, indicating a 18.29% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $30.57 per share and revenue of $45.31 billion, indicating changes of +72.81% and +19.02%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GE Vernova. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.02% increase. GE Vernova is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, GE Vernova is currently being traded at a Forward P/E ratio of 30.55. For comparison, its industry has an average Forward P/E of 17.25, which means GE Vernova is trading at a premium to the group.
We can additionally observe that GEV currently boasts a PEG ratio of 1.7. 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 2.08 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 109, this industry ranks in the top 45% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GEV in the coming trading sessions, be sure to utilize Zacks.com.