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GE Vernova (GEV) Rises As Market Takes a Dip: Key Facts
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The most recent trading session ended with GE Vernova (GEV - Free Report) standing at $163.34, reflecting a +1.15% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.71%. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
Shares of the the energy business spun off from General Electric witnessed a loss of 8.86% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 8.42% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of GE Vernova in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for GE Vernova. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.38% higher. Currently, GE Vernova is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, GE Vernova is presently trading at a Forward P/E ratio of 53.34. This expresses a premium compared to the average Forward P/E of 23.16 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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GE Vernova (GEV) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with GE Vernova (GEV - Free Report) standing at $163.34, reflecting a +1.15% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.71%. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
Shares of the the energy business spun off from General Electric witnessed a loss of 8.86% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 8.42% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of GE Vernova in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for GE Vernova. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.38% higher. Currently, GE Vernova is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, GE Vernova is presently trading at a Forward P/E ratio of 53.34. This expresses a premium compared to the average Forward P/E of 23.16 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.