Wed Jan 29 12:00:00 UTC 2025: ## GE Vernova Stock Plunges After Earnings Miss; Analysts Remain Divided
**New York, NY – February 27, 2024** – Shares of GE Vernova (NYSE: GEV) experienced a significant drop on Monday, opening at $339.60 after closing at $420.49 the previous day, representing a roughly 19% decline. The stock’s sharp decrease follows the company’s release of quarterly earnings data on January 22nd, which revealed a miss on analysts’ expectations. GE Vernova reported earnings per share (EPS) of $1.73, falling short of the anticipated $2.30 by $0.57. Revenue also slightly missed projections, coming in at $10.56 billion against an estimated $10.70 billion.
Despite the disappointing earnings, several research analysts maintain a positive outlook on the stock. Wells Fargo raised its target price to $411.00, Citigroup to $437.00, and Jefferies Financial Group to $391.00, each assigning varying ratings ranging from “buy” to “neutral.” TD Cowen initiated coverage with a “buy” rating and a $400.00 price target. However, the overall analyst consensus rating remains a “Moderate Buy,” with a target price of $339.73 according to MarketBeat. Eight analysts rate the stock a “hold,” while nineteen rate it a “buy,” and one a “strong buy”.
The company recently announced a $6 billion share repurchase program, suggesting management believes the stock is undervalued. Several institutional investors have also increased their holdings in GE Vernova in recent quarters. The company also declared a quarterly dividend of $0.25 per share.
GE Vernova operates in three segments: Power, Wind, and Electrification, generating and selling electricity through various means. The company’s market capitalization stands at $90.86 billion, and its P/E ratio is 59.29.
While some analysts remain bullish, the significant stock price drop and missed earnings expectations have created uncertainty surrounding GE Vernova’s near-term prospects. The market will be watching closely to see how the company addresses these challenges.
First Piper 