GE Vernova (GEV) to Release Earnings on Wednesday

GE Vernova (NYSE:GEV) is expected to be announcing its earnings results before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $2.30 per share for the quarter.

GE Vernova Trading Up 1.1 %

Shares of GEV stock traded up $4.14 during trading on Wednesday, hitting $386.40. The company had a trading volume of 2,522,640 shares, compared to its average volume of 2,827,368. GE Vernova has a one year low of $115.00 and a one year high of $392.77. The stock’s 50-day moving average price is $341.28 and its 200 day moving average price is $260.29.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.26%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HSBC reiterated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $318.60.

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.