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GE Vernova (GEV) Suffers a Larger Drop Than the General Market: Key Insights
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GE Vernova (GEV - Free Report) closed at $262.54 in the latest trading session, marking a -1.15% move from the prior day. This change lagged the S&P 500's daily loss of 0.96%. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Heading into today, shares of the the energy business spun off from General Electric had gained 33.91% over the past month, outpacing the Oils-Energy sector's gain of 7.24% and the S&P 500's gain of 4.3% in that time.
The investment community will be paying close attention to the earnings performance of GE Vernova in its upcoming release. The company is slated to reveal its earnings on October 23, 2024.
Investors should also note any recent changes to analyst estimates for GE Vernova. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.24% higher within the past month. GE Vernova is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that GE Vernova has a Forward P/E ratio of 82.78 right now. This signifies a premium in comparison to the average Forward P/E of 20.25 for its industry.
Investors should also note that GEV has a PEG ratio of 3.94 right now. 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 currently had an average PEG ratio of 2.75 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 19% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Suffers a Larger Drop Than the General Market: Key Insights
GE Vernova (GEV - Free Report) closed at $262.54 in the latest trading session, marking a -1.15% move from the prior day. This change lagged the S&P 500's daily loss of 0.96%. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Heading into today, shares of the the energy business spun off from General Electric had gained 33.91% over the past month, outpacing the Oils-Energy sector's gain of 7.24% and the S&P 500's gain of 4.3% in that time.
The investment community will be paying close attention to the earnings performance of GE Vernova in its upcoming release. The company is slated to reveal its earnings on October 23, 2024.
Investors should also note any recent changes to analyst estimates for GE Vernova. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.24% higher within the past month. GE Vernova is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that GE Vernova has a Forward P/E ratio of 82.78 right now. This signifies a premium in comparison to the average Forward P/E of 20.25 for its industry.
Investors should also note that GEV has a PEG ratio of 3.94 right now. 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 currently had an average PEG ratio of 2.75 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 19% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.