GE Vernova (GEV) to Release Quarterly Earnings on Wednesday

GE Vernova (NYSE:GEV) is projected to announce 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 Stock Up 1.1 %

GE Vernova stock traded up $4.14 during mid-day trading on Wednesday, hitting $386.40. 2,522,640 shares of the stock were exchanged, compared to its average volume of 2,827,368. GE Vernova has a 12 month low of $115.00 and a 12 month high of $392.77. The firm’s fifty day simple moving average is $341.28 and its two-hundred day simple moving average is $260.29.

GE Vernova Announces Dividend

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

GE Vernova declared that its board has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GEV shares. HSBC reissued a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Royal Bank of Canada restated 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 lifted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research report on Tuesday. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.60.

About GE Vernova

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.