Why the Market Dipped But GE Vernova (GEV) Gained Today

The latest trading session saw GE Vernova (GEV) ending at $348.13, denoting a +1.27% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a loss of 0.55%, and the technology-centric Nasdaq decreased by 0.18%.The the energy business spun off from General Electric's shares have seen an increase of 2.22% over the last month, not keeping up with the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 6.66%.The investment community will be closely monitoring the performance of GE Vernova in its forthcoming earnings report.Any recent changes to analyst estimates for GE Vernova should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.59% lower. GE Vernova currently has a Zacks Rank of #3 (Hold).With respect to valuation, GE Vernova is currently being traded at a Forward P/E ratio of 142.69. This denotes a premium relative to the industry's average Forward P/E of 25.23.One should further note that GEV currently holds a PEG ratio of 7.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.02.The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 130, this industry ranks in the bottom 49% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Vernova Inc. (GEV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks