GE Vernova stock closed up 0.64%, outperforming sector, but trading at a premium

From Nasdaq: 2024-12-13 17:50:06

In the latest trading session, GE Vernova (GEV) closed at $332.01, up +0.64%. Meanwhile, the Dow dropped 0.2%, and the Nasdaq rose 0.12%. GE Vernova outperformed the Oils-Energy sector last month, gaining 1.19% compared to sector’s 1.64% loss and the S&P 500’s 1.27% gain.

Investors are eagerly awaiting GE Vernova’s upcoming earnings report and any changes to analyst estimates. Positive estimate revisions often indicate analyst confidence in the company’s future performance. The Zacks Rank system, which incorporates these changes, currently rates GE Vernova as a #3 (Hold) stock.

With a Forward P/E ratio of 136.49, GE Vernova is trading at a premium compared to the industry average of 24.74. Additionally, its PEG ratio of 7.58 suggests a higher valuation relative to the Alternative Energy – Other industry’s average PEG ratio of 2.14.

The Alternative Energy – Other industry, part of the Oils-Energy sector, currently holds a Zacks Industry Rank of 130, positioning it in the bottom 49% of industries. Using Zacks.com, investors can monitor these metrics and industry rankings for informed decision-making in future trading sessions.

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Read more at Nasdaq: GE Vernova (GEV) Stock Moves 0.64%: What You Should Know