Streetbeat News

GEV

GE Vernova Inc.

https://www.gevernova.com

Industry

Renewable Utilities

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. The company was incorporated in 2023 and is based in Cambridge, Massachusetts.

Open

306.45

Mkt cap

87B

Volume

2.9M

High

315.77

P/E Ratio

56.21

52-wk high

447.50

Low

303.00

Div yield

0.00

52-wk low

119.00

GE Vernova reported mixed Q3 results with strong sales growth but missed earnings expectations. Revenue grew 8% YoY to $8.913 billion, beating estimates, while EPS missed at a loss of $0.35. Orders increased 17% organically, and cash flow surged. Despite positive revenue and cash flow, shares fell 4.49% premarket.

Portfolio Pulse from Akanksha Bakshi

October 23, 2024 | 12:00 pm

GE Vernova shares declined following the release of mixed Q3 financial results, although the company reaffirmed its FY24 sales outlook.

Portfolio Pulse from Mohit Manghnani

October 23, 2024 | 10:41 am

GE Vernov reported a Q3 2024 GAAP EPS of $(0.35), missing the estimated $0.32. This significant miss could impact investor sentiment negatively.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 10:37 am

GE Vernova reaffirms its FY24 sales guidance, expecting revenue at the higher end of $34-$35 billion, with improved EBITDA margins and free cash flow. The Power segment anticipates mid-single digit growth, Wind aims for profitability, and Electrification expects high-teens growth.

Portfolio Pulse from Mohit Manghnani

October 23, 2024 | 10:34 am

GE Vernov reported Q3 sales of $8.921 billion, surpassing the analyst estimate of $8.783 billion and marking a 10.14% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 10:31 am

The article highlights unusual options activity for several industrial stocks, indicating potential trading opportunities. Notable mentions include bullish call sweeps for JOBY and ZIM, bearish call sweeps for GRAB and ACHR, and a bullish put sweep for MMM.

Portfolio Pulse from Benzinga Insights

October 22, 2024 | 5:35 pm

GE Vernova and GE Healthcare, two of GE's spin-offs, are set to report their Q3 earnings. GE Vernova is expected to perform well due to its strong position in the electric power sector and AI-driven data centers, while GE Healthcare is focusing on AI in medical tech but faces challenges like slow Chinese orders.

Portfolio Pulse from Surbhi Jain

October 22, 2024 | 2:09 pm

Jim Cramer provided insights on several stocks during CNBC's 'Mad Money Lightning Round.' He recommended buying Cheniere Energy (LNG) and expressed concerns about HubSpot (HUBS) and AST SpaceMobile (ASTS), labeling them as 'playing with fire' and 'overvalued,' respectively. Cramer also mentioned that GE Vernova (GEV) might sell off on good news, and NuScale Power (SMR) is losing money. DexCom (DXCM) had a poor last quarter, with upcoming earnings expected to show a decline.

Portfolio Pulse from Avi Kapoor

October 22, 2024 | 12:35 pm

Several Wall Street analysts initiated coverage on key stocks with bullish ratings. Deutsche Bank rated GE Vernova (GEV) as Buy with a $354 target. Keybanc rated BKV Corporation (BKV) as Overweight with a $23 target. Jefferies rated Sarepta Therapeutics (SRPT) as Buy with a $165 target. Benchmark rated ESCO Technologies (ESE) as Buy with a $150 target. Truist Securities rated Guardian Pharmacy Services (GRDN) as Buy with a $22 target.

Portfolio Pulse from Avi Kapoor

October 21, 2024 | 1:01 pm

Deutsche Bank has initiated coverage on GE Vernova with a Buy rating and set a price target of $354, indicating a positive outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 9:12 am

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