Gamesa deal pushes shares to 52-week high

Siemens Energy shares saw a significant rebound following news of a major contract won by subsidiary Siemens Gamesa. Spanish energy supplier Iberdrola placed an order for wind turbines worth well over a billion pounds through its Scottishpower unit. The development catapulted Siemens Energy shares up 3.2% to 40.80 euros in XETRA trading, approaching a 52-week high of 40.92 euros. The current share price represents an impressive increase of 339.56% from the 52-week low of €9.28 recorded in November 2023.

Analyst outlook and upcoming results

As Siemens Energy prepares to report fourth-quarter and fiscal 2023/24 results on November 13, analysts are keeping a close eye on the company’s performance. Experts predict earnings per share of 0.356 euros for the 2024 financial year, with an average price target of 29.82 euros. The energy technology giant is benefiting from robust growth in its network technology sector and continued demand for gas turbines, supported by a growing electricity market. However, challenges remain in the wind energy segment, leading investors to eagerly scrutinize the upcoming quarterly results to gain insight into the company’s direction.

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Siemens Energy Stock: New Analysis – November 12

New Siemens Energy information released. What is the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Siemens Energy Analysis…