GE Vernova (GEV) to Release Earnings on Wednesday

GE Vernova (NYSE:GEV) is projected to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect GE Vernova to post earnings of $2.30 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

GE Vernova Price Performance

Shares of GEV opened at $401.84 on Monday. GE Vernova has a one year low of $115.00 and a one year high of $404.13. The stock’s fifty day moving average is $344.59 and its 200-day moving average is $264.36.

GE Vernova declared that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Oppenheimer assumed coverage on GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating for the company. Barclays increased their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Finally, Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.35.

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.