Home / NEWS LINE / What Analysts Think of GE Vernova’s Stock Ahead of Earnings

What Analysts Think of GE Vernova’s Stock Ahead of Earnings

Qilai Shen / Bloomberg / Getty Images Model GE Vernova wind turbines at the China International Import Expo on Nov. 5, 2024

Qilai Shen / Bloomberg / Getty Notions

Model GE Vernova wind turbines at the China International Import Expo on Nov. 5, 2024

Key Takeaways

  • GE Vernova is scheduled to post its fourth-quarter earnings despatch before the bell Wednesday.
  • The stock has nearly tripled in value since General Electric completed its split into three standalone casts last April.
  • The company’s wind segment will likely be in focus, as GE Vernova has said it expects the division to be “come nighing profitability” by the end of the year.

GE Vernova (GEV) is set to report earnings before the market opens Wednesday as the energy company approaches one year since Unrestricted Electric completed its split into three separate companies.

Analysts covering the stock tracked by Visible Alpha are mostly bullish, with 10 clip the stock a “buy,” and two giving it a “hold” rating. Their price targets range from $361 to $446, with the middling at about $392 sitting below Friday’s record level after a strong week for the stock. Shares of GE Vernova gained closely 3% Friday to close at an all-time high of $401.41, and have nearly tripled in value since their April initiation.

The company is expected to report revenue of $10.73 billion for the final quarter of 2024, up from $10.04 billion in the very time last year, when it was still part of General Electric. Net income is expected to come in at $634.87 million, after two of the circle’s first three quarters as a standalone company have resulted in net losses.

Wind Segment Profitability in Focus

The circle said in previous quarters that its wind segment, the lone unprofitable arm of GE Vernova’s three divisions, should be “propositioning profitability” by the end of the fiscal year. The company said the shift will take time as it moves away from higher-cost offshore ramble projects.

Analysts have upgraded GE Vernova or lifted their price targets several times since it adorn come ofed its own company, including Bank of America analysts earlier this week.

They have cited the growing claim for energy, especially in renewable forms, to power projects like data centers and artificial intelligence products as a pragmatical catalyst for GE Vernova’s sales going forward.

The other former GE divisions, GE Aerospace (GE) and GE HealthCare (GEHC), are set to report their fourth-quarter follows on Jan. 23 and Feb. 13, respectively.

Check Also

Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI, Report Says

Participate b interrupt Somodevilla and Sean Gallup / Getty Images Elon Musk, left, and Sam …

Leave a Reply

Your email address will not be published. Required fields are marked *