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GE Vernova (GEV) Rises As Market Takes a Dip: Key Facts
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GE Vernova (GEV - Free Report) closed at $256.53 in the latest trading session, marking a +0.61% move from the prior day. This change outpaced the S&P 500's 0.93% loss on the day. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 1.53%.
The the energy business spun off from General Electric's shares have seen an increase of 26.86% over the last month, surpassing the Oils-Energy sector's loss of 2.51% and the S&P 500's gain of 2.17%.
The investment community will be paying close attention to the earnings performance of GE Vernova in its upcoming release. The company is slated to reveal its earnings on October 23, 2024.
Investors might also notice recent changes to analyst estimates for GE Vernova. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.24% rise in the Zacks Consensus EPS estimate. GE Vernova currently has a Zacks Rank of #3 (Hold).
In terms of valuation, GE Vernova is presently being traded at a Forward P/E ratio of 79.47. This valuation marks a premium compared to its industry's average Forward P/E of 19.27.
It is also worth noting that GEV currently has a PEG ratio of 3.78. 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 the market closed yesterday, the Alternative Energy - Other industry was having an average PEG ratio of 3.35.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Rises As Market Takes a Dip: Key Facts
GE Vernova (GEV - Free Report) closed at $256.53 in the latest trading session, marking a +0.61% move from the prior day. This change outpaced the S&P 500's 0.93% loss on the day. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 1.53%.
The the energy business spun off from General Electric's shares have seen an increase of 26.86% over the last month, surpassing the Oils-Energy sector's loss of 2.51% and the S&P 500's gain of 2.17%.
The investment community will be paying close attention to the earnings performance of GE Vernova in its upcoming release. The company is slated to reveal its earnings on October 23, 2024.
Investors might also notice recent changes to analyst estimates for GE Vernova. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.24% rise in the Zacks Consensus EPS estimate. GE Vernova currently has a Zacks Rank of #3 (Hold).
In terms of valuation, GE Vernova is presently being traded at a Forward P/E ratio of 79.47. This valuation marks a premium compared to its industry's average Forward P/E of 19.27.
It is also worth noting that GEV currently has a PEG ratio of 3.78. 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 the market closed yesterday, the Alternative Energy - Other industry was having an average PEG ratio of 3.35.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.