Siemens Energy Stock: Gamesa Deal Propels Shares Near 52-Week High

Siemens Energy's stock experienced a significant upturn following news of a major contract secured by its subsidiary, Siemens Gamesa. The Spanish energy provider Iberdrola, through its Scottishpower unit, placed an order for wind turbines valued at over one billion pounds. This development catapulted Siemens Energy's shares by 3.2% to 40.80 euros during XETRA trading, approaching its 52-week high of 40.92 euros. The current stock price represents an impressive 339.56% increase from its 52-week low of 9.28 euros, recorded in November 2023.

Analysts' Outlook and Upcoming Results

As Siemens Energy prepares to release its fourth-quarter and fiscal year 2023/24 results on November 13, analysts are closely monitoring the company's performance. Experts project an earnings per share of 0.356 euros for the fiscal year 2024, with an average price target of 29.82 euros. The energy technology giant is benefiting from robust growth in its grid technology sector and sustained demand for gas turbines, bolstered by an expanding electricity market. However, challenges persist in the wind energy segment, leaving investors eager to scrutinize the forthcoming quarterly figures for insights into the company's trajectory.