GE Vernova (NYSE:GEV) Issues Quarterly Earnings Results

GE Vernova (NYSE:GEV) announced its quarterly earnings data on Thursday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17), reports. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova updated its FY 2024 guidance to EPS.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $153.07 on Friday. GE Vernova has a 12 month low of $115.00 and a 12 month high of $157.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. The Goldman Sachs Group began coverage on GE Vernova in a report on Tuesday, April 16th. They issued a “buy” rating and a $154.00 target price on the stock. Melius began coverage on shares of GE Vernova in a research note on Monday, April 22nd. They issued a “hold” rating and a $147.00 price objective on the stock. Mizuho started coverage on shares of GE Vernova in a report on Monday, April 15th. They issued a “buy” rating and a $154.00 target price on the stock. Raymond James assumed coverage on shares of GE Vernova in a research report on Wednesday, April 17th. They issued an “outperform” rating and a $160.00 price target on the stock. Finally, BNP Paribas initiated coverage on GE Vernova in a report on Wednesday, April 17th. They set an “outperform” rating and a $177.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.44.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of GE Vernova during the first quarter worth approximately $478,000. Valeo Financial Advisors LLC bought a new position in GE Vernova in the 1st quarter worth $673,000. Anderson Hoagland & Co. bought a new stake in GE Vernova during the 1st quarter valued at approximately $1,720,000. Finally, Maryland State Retirement & Pension System purchased a new position in GE Vernova during the 1st quarter valued at about $2,892,000.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.