GE Vernova (NYSE:GEV) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

GE Vernova (NYSE:GEV) issued its earnings results on Thursday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17), reports. The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova updated its FY 2024 guidance to EPS.

GE Vernova Trading Up 3.2 %

NYSE GEV traded up $4.76 during trading hours on Friday, hitting $153.07. The company had a trading volume of 4,230,515 shares, compared to its average volume of 7,741,461. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $157.25.

Institutional Trading of GE Vernova

Several large investors have recently modified their holdings of GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of GE Vernova during the first quarter valued at about $478,000. Valeo Financial Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter valued at about $673,000. Anderson Hoagland & Co. acquired a new stake in shares of GE Vernova during the first quarter valued at about $1,720,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of GE Vernova during the first quarter valued at about $2,892,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Melius assumed coverage on GE Vernova in a research report on Monday, April 22nd. They issued a “hold” rating and a $147.00 target price on the stock. Evercore ISI assumed coverage on GE Vernova in a research report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of GE Vernova in a research report on Friday, April 12th. BNP Paribas started coverage on GE Vernova in a research report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 target price on the stock. Finally, Mizuho started coverage on GE Vernova in a report on Monday, April 15th. They issued a “buy” rating and a $154.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.44.

About GE Vernova

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.