GE Vernova Set to Announce Earnings on October 23rd

GE Vernova (NYSE:GEV – Get Free Report) is poised to release its earnings data on Wednesday, October 23rd, before the market opens. Analysts are predicting that the company will report earnings of $0.84 per share for the quarter. In addition, GE Vernova has provided guidance for its fiscal year 2024 earnings per share (EPS).

Those interested in the details can listen to the company's earnings conference call through a provided link.

Previously, on July 24th, GE Vernova announced its quarterly earnings, reporting $0.71 EPS, which exceeded analyst expectations of $0.69 by $0.02. The company generated revenues of $8.20 billion during that quarter, falling short of projections that estimated $8.42 billion. Moving forward, analysts generally expect GE Vernova to achieve EPS of $3 for the current fiscal year and $6 for the next fiscal year.

GE Vernova Stock Performance

As of Monday, GE Vernova's stock was valued at $272.72. The stock is currently trading above its 50-day moving average of $224.93 and its 200-day moving average of $185.19. Over the past year, the stock has reached a low of $115.00 and a high of $281.37.

Wall Street Analysts Outlook

Several analysts have recently shared their forecasts for GE Vernova. Goldman Sachs raised their price target for the stock from $220.00 to $308.00, maintaining a “buy” rating. Meanwhile, HSBC reiterated a “hold” rating with a new price target of $255.00, up from a previous target of $240.00. BMO Capital Markets also increased their price target from $245.00 to $288.00, labeling the stock as an “outperform”. Additionally, Redburn Atlantic began coverage with a “neutral” rating and a target price of $178.00. Further, HSBC Global Research adjusted their stance from a “strong-buy” to a “hold” rating on October 4th. Overall, market data shows that seven analysts recommend a hold, sixteen suggest a buy, and one has a strong buy rating for GE Vernova, resulting in a consensus rating of “Moderate Buy” and a consensus price target of $246.73.

About GE Vernova

GE Vernova LLC operates as an integrated energy business. The company focuses on generating electricity across three main segments: Power, Wind, and Electrification. The Power segment is involved in generating and selling electricity using hydro, gas, nuclear, and steam power sources. The Wind segment specializes in manufacturing and selling wind turbine blades. In the Electrification segment, the company provides solutions for power conversion, solar energy, storage, and grid systems.

Earnings, Stocks, Analysts