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GE Vernova (GEV) Stock Moves -0.4%: What You Should Know
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GE Vernova (GEV - Free Report) closed at $328.93 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.9%.
The the energy business spun off from General Electric's stock has dropped by 2.16% in the past month, exceeding the Oils-Energy sector's loss of 8.37% and lagging the S&P 500's loss of 1.98%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company plans to announce its earnings on January 22, 2025.
Investors should also note any recent changes to analyst estimates for GE Vernova. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.14% fall in the Zacks Consensus EPS estimate. GE Vernova is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GE Vernova is presently being traded at a Forward P/E ratio of 146.06. This valuation marks a premium compared to its industry's average Forward P/E of 24.49.
Investors should also note that GEV has a PEG ratio of 8.11 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 1.89 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Moves -0.4%: What You Should Know
GE Vernova (GEV - Free Report) closed at $328.93 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.9%.
The the energy business spun off from General Electric's stock has dropped by 2.16% in the past month, exceeding the Oils-Energy sector's loss of 8.37% and lagging the S&P 500's loss of 1.98%.
Market participants will be closely following the financial results of GE Vernova in its upcoming release. The company plans to announce its earnings on January 22, 2025.
Investors should also note any recent changes to analyst estimates for GE Vernova. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.14% fall in the Zacks Consensus EPS estimate. GE Vernova is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GE Vernova is presently being traded at a Forward P/E ratio of 146.06. This valuation marks a premium compared to its industry's average Forward P/E of 24.49.
Investors should also note that GEV has a PEG ratio of 8.11 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 1.89 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.