Shares of electric power producer GE Vernova (GEV) are up in today’s trading as investors await its Q4 earnings results on January 22 before the market opens. Analysts are expecting earnings per share to come in at $2.30 on revenue of $10.70 billion.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
However, it is worth noting that GEV has had a choppy record when it comes to beating earnings estimates in its short time as a standalone company following its spinoff from GE Aerospace (GE). Indeed, it has only done so once during its first three quarters.
Nevertheless, Truist analyst Jordan Levy seems confident in the company’s future after he raised its price target from $400 to $420 per share while maintaining a Buy rating. Indeed, he believes that GE Vernova will see a “relatively steady quarter” in terms of its financial performance. Truist also increased its gas equipment order forecast for GEV by 16% heading into 2025.
Options Traders Anticipate a Large Move
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. Indeed, the at-the-money straddle suggests that options traders expect a 6.9% price move in either direction. This estimate is derived from the $415 strike price, with call options priced at $14.95 and put options at $13.68.
Is GEV Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GEV stock based on 16 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 194% rally in its share price over the past year, the average GEV price target of $385.25 per share implies 7.1% downside risk.
