What's Going On With Shares Of GE Vernova Today?
Shares of GE Vernova Inc. (NASDAQ:GEV) are trading higher Wednesday after the Massachusetts-based energy technology company raised its multi-year outlook, increased its stock repurchase allotment and doubled its dividend.
- GE Vernova stock is at critical resistance. What’s behind GEV new highs?
What To Know: GE Vernova now expects to bring in $52 billion in revenue and generate a 20% adjusted EBITDA margin by 2028, which is higher than its previous forecast of $45 billion in revenue and a 14% adjusted EBITDA margin. By 2028 the company also expects cumulative free cash flow of $22 billion up from $14 billion.
During its 2025 Investor Update Day, GE Vernova reaffirmed revenue guidance for the current fiscal year, telling investors that it expects results to land in the high end of the $36 billion to $37 billion range. The company also expects free cash flow for this fiscal year to be between $3.5 billion and $4.0 billion, up from a previous forecast of $3.0 billion to $3.5 billion.
“At GE Vernova, we are in the early chapters of an incredible value creation opportunity with a stronger financial trajectory ahead," said GE Vernova CEO Scott Strazik. "Electric power will be critical to unlocking economic growth in the decades ahead and we are well-positioned with our large installed base and platform of advanced solutions to serve this growing, long-cycle market.
The company’s board increased the quarterly dividend from 25 cents to 50 cents and raised its stock repurchase authorization to $10 billion from $6 billion. The company noted that it has already repurchased $3.3 billion of the allotted amount.
Several analysts adjusted price targets on the stock after the investor update.
- Susquehanna analyst Charles Minervino maintained a positive rating and raised the price target from $750 to $775.
- BofA Securities analyst Andrew Obin maintained a buy rating and raised the price target from $725 to $804.
- BMO Capital analyst Ameet Thakkar maintained an outperform and raised the price target from $710 to $780.
GEV Price Action: GE Vernova shares were up 12.59%, trading at $703.97 at last check, according to Benzinga Pro.
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