Erste Group Bank Raises Earnings Estimates for GE Vernova

Key Points

• Erste Group Bank slightly raised its FY2027 EPS estimate for GE Vernova to $24.62 from $24.58 and reiterated a Strong-Buy rating.
• GE Vernova’s most recent quarter was much stronger than expected, with EPS of $17.44 versus a $1.95 consensus estimate and revenue of $9.34 billion, up 17% year over year.
• Wall Street remains broadly constructive on the stock: analysts give it an average Moderate Buy rating with a target price of about $1,089.88, while the shares recently traded near their 52-week high.

GE Vernova Inc. (NYSE:GEV - Free Report) - Stock analysts at Erste Group Bank raised their FY2027 earnings per share estimates for GE Vernova in a report released on Thursday, June 25th. Erste Group Bank analyst H. Engel now forecasts that the company will earn $24.62 per share for the year, up from their previous estimate of $24.58. Erste Group Bank currently has a "Strong-Buy" rating on the stock. The consensus estimate for GE Vernova's current full-year earnings is $14.99 per share.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the business posted $0.91 EPS. The business's revenue was up 17.0% on a year-over-year basis.

Several other equities analysts also recently issued reports on GEV. Robert W. Baird boosted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. BNP Paribas Exane downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price objective on the stock. in a research report on Monday, April 27th. Jefferies Financial Group reduced their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a research note on Thursday, June 11th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Price Performance

Shares of GEV opened at $1,172.73 on Wednesday. GE Vernova has a 12 month low of $482.20 and a 12 month high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The stock has a fifty day moving average price of $1,037.02 and a 200 day moving average price of $872.20. The company has a market cap of $315.14 billion, a P/E ratio of 34.16, a PEG ratio of 4.09 and a beta of 1.23.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is currently 5.83%.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently made changes to their positions in GEV. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. boosted its holdings in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after buying an additional 208,162 shares in the last quarter. State Street Corp grew its position in GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after buying an additional 231,392 shares during the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after buying an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock valued at $3,957,024,000 after buying an additional 685,466 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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