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GE Vernova (GEV) Stock Moves -0.75%: What You Should Know
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In the latest market close, GE Vernova (GEV - Free Report) reached $368.52, with a -0.75% movement compared to the previous day. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw a decrease of 1.89%.
The the stock of the energy business spun off from General Electric has risen by 10.76% in the past month, leading the Oils-Energy sector's loss of 11.62% and the S&P 500's loss of 1.7%.
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. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 3.84% higher. GE Vernova currently has a Zacks Rank of #3 (Hold).
In the context of valuation, GE Vernova is at present trading with a Forward P/E ratio of 55.82. Its industry sports an average Forward P/E of 17.89, so one might conclude that GE Vernova is trading at a premium comparatively.
We can also see that GEV currently has a PEG ratio of 3.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 1.84.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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GE Vernova (GEV) Stock Moves -0.75%: What You Should Know
In the latest market close, GE Vernova (GEV - Free Report) reached $368.52, with a -0.75% movement compared to the previous day. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw a decrease of 1.89%.
The the stock of the energy business spun off from General Electric has risen by 10.76% in the past month, leading the Oils-Energy sector's loss of 11.62% and the S&P 500's loss of 1.7%.
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. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 3.84% higher. GE Vernova currently has a Zacks Rank of #3 (Hold).
In the context of valuation, GE Vernova is at present trading with a Forward P/E ratio of 55.82. Its industry sports an average Forward P/E of 17.89, so one might conclude that GE Vernova is trading at a premium comparatively.
We can also see that GEV currently has a PEG ratio of 3.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 1.84.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.