GE Vernova Inc. (NYSE:GEV – Get Free Report)’s share price shot up 1.9% during trading on Thursday after Barclays raised their price target on the stock from $420.00 to $487.00. Barclays currently has an overweight rating on the stock. GE Vernova traded as high as $435.99 and last traded at $435.19. 812,392 shares traded hands during trading, a decline of 71% from the average session volume of 2,838,909 shares. The stock had previously closed at $427.10.
A number of other equities analysts have also recently weighed in on GEV. Truist Financial upped their price target on GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $360.00 to $420.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $335.40.
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GE Vernova Trading Up 2.2 %
The firm’s 50-day moving average price is $349.37 and its two-hundred day moving average price is $269.42.
GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.
GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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