GE Vernova Inc. (NYSE:GEV – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $347.83.
A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Finally, Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd.
Read Our Latest Stock Report on GEV
Hedge Funds Weigh In On GE Vernova
GE Vernova Stock Down 1.5 %
Shares of NYSE:GEV opened at $288.90 on Friday. The firm has a 50 day moving average of $360.05 and a 200 day moving average of $308.83. The company has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50.
GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova will post 6.59 EPS for the current year.
GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.35%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.
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.
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