Gamesa Deal Sends Shares Near 52-Week High

Shares of Siemens Energy experienced a significant rise following the news that a major contract was signed by its subsidiary Siemens Gamesa. Spanish energy provider Iberdrola has ordered wind turbines worth more than a billion pounds through its Scottish electricity unit. This development sent shares of Siemens Energy up 3.2% to 40.80 euros in XETRA trading, close to a 52-week high of 40.92 euros. The current stock price represents an impressive 339.56% increase from the 52-week low of €9.28 recorded in November 2023.

Analyst Outlook and Upcoming Results

As Siemens Energy prepares to announce its fourth quarter and 2023/24 fiscal year results on November 13, analysts are closely monitoring the company’s performance. Experts predict earnings per share for fiscal 2024 will be 0.356 euros, with an average price target of 29.82 euros. The energy technology giant is benefiting from strong growth in the grid technology sector and continued demand for gas turbines supported by the expanding electricity market. But challenges remain in the wind energy segment, leaving investors eager to examine the next quarterly numbers to gain insights into the company’s direction.

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Siemens Energy Stock: New Analysis – November 12

Fresh Siemens Energy information has been published. What is the impact for investors? Our latest independent report examines the latest figures and market trends.

Read our updated Siemens Energy analysis…