Equities research analysts expect Baker Hughes (NYSE:BKR – Get Rating) to report earnings of $0.23 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Baker Hughes’ earnings, with estimates ranging from $0.21 to $0.26. Baker Hughes reported earnings per share of $0.10 during the same quarter last year, which would suggest a positive year-over-year growth rate of 130%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Baker Hughes will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.06 to $1.30. For the next year, analysts anticipate that the business will post earnings of $1.74 per share, with EPS estimates ranging from $1.30 to $2.00. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Baker Hughes.
Baker Hughes (NYSE:BKR – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. Baker Hughes’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share.
A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 price target for the company. in a research report on Tuesday, March 22nd. Morgan Stanley increased their price objective on Baker Hughes from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Royal Bank of Canada lowered their price objective on Baker Hughes from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Bank of America reiterated a “buy” rating and issued a $35.00 price objective (up from $33.00) on shares of Baker Hughes in a research report on Friday, January 21st. Finally, UBS Group increased their price objective on Baker Hughes from $28.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, March 18th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Buy” and a consensus price target of $36.38.
In other news, Director William G. Beattie sold 5,507 shares of the stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $35.69, for a total value of $196,544.83. Following the sale, the director now directly owns 12,743 shares in the company, valued at $454,797.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kurt Camilleri sold 5,858 shares of the firm’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $33.52, for a total value of $196,360.16. Following the completion of the sale, the senior vice president now owns 795 shares in the company, valued at $26,648.40. The disclosure for this sale can be found here. Insiders have sold 30,997 shares of company stock worth $1,059,215 over the last 90 days. 0.34% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Capital World Investors raised its stake in Baker Hughes by 5.2% in the fourth quarter. Capital World Investors now owns 106,470,994 shares of the company’s stock valued at $2,561,675,000 after buying an additional 5,271,646 shares in the last quarter. Capital Research Global Investors raised its stake in Baker Hughes by 48.9% in the fourth quarter. Capital Research Global Investors now owns 86,254,355 shares of the company’s stock valued at $2,075,278,000 after buying an additional 28,319,193 shares in the last quarter. BlackRock Inc. raised its stake in Baker Hughes by 13.0% in the third quarter. BlackRock Inc. now owns 78,927,669 shares of the company’s stock valued at $1,951,881,000 after buying an additional 9,103,110 shares in the last quarter. State Street Corp raised its stake in Baker Hughes by 5.4% in the fourth quarter. State Street Corp now owns 61,484,230 shares of the company’s stock valued at $1,479,311,000 after buying an additional 3,157,362 shares in the last quarter. Finally, Norges Bank acquired a new stake in Baker Hughes in the fourth quarter valued at $501,229,000. Institutional investors own 92.83% of the company’s stock.
BKR stock opened at $32.13 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.15. The business has a 50 day simple moving average of $34.79 and a 200-day simple moving average of $28.94. The firm has a market capitalization of $33.01 billion, a PE ratio of 48.68 and a beta of 1.52. Baker Hughes has a 1 year low of $19.23 and a 1 year high of $39.78.
Baker Hughes Company Profile (Get Rating)
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.
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