GE Vernova (NYSE:GEV) Stock Price Down 1.1% - What's Next?

Key Points

• GE Vernova's stock price fell 1.1% to $627.60, with trading volume down 76% from its average.
• The company reported a quarterly earnings of $1.86 per share, surpassing estimates, with year-over-year revenue growth of 11.1%.
• Recent analyst reports have significantly increased target prices for GE Vernova, with ratings ranging from "buy" to "overweight", indicating positive market expectations.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 1.1% on Thursday . The company traded as low as $623.83 and last traded at $627.60. Approximately 870,461 shares were traded during trading, a decline of 76% from the average daily volume of 3,578,635 shares. The stock had previously closed at $634.31.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GEV. Robert W. Baird upped their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Bank of America increased their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. BMO Capital Markets lifted their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Barclays raised their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Susquehanna lifted their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Down 1.7%

The stock has a market cap of $169.81 billion, a price-to-earnings ratio of 149.93, a P/E/G ratio of 4.54 and a beta of 1.90. The firm has a fifty day simple moving average of $558.05 and a 200-day simple moving average of $429.11.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the company posted $4.65 EPS. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the company. Navigoe LLC bought a new stake in GE Vernova during the fourth quarter worth $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova during the fourth quarter worth $28,000. Finally, WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter worth $29,000.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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