Baker Hughes (NYSE:BKR) Announces Earnings Results

Baker Hughes (NYSE:BKRGet Rating) released its quarterly earnings data on Wednesday. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05), RTT News reports. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.01 billion. Baker Hughes had a negative net margin of 1.06% and a positive return on equity of 3.14%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share.

Shares of NYSE:BKR opened at $36.74 on Wednesday. The firm’s 50 day simple moving average is $34.00 and its 200 day simple moving average is $28.35. Baker Hughes has a fifty-two week low of $18.75 and a fifty-two week high of $39.78. The company has a market capitalization of $37.75 billion, a price-to-earnings ratio of -102.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.65 and a quick ratio of 1.21.

The business also recently announced a quarterly dividend, which was paid on Friday, February 18th. Stockholders of record on Monday, February 7th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. Baker Hughes’s payout ratio is currently -199.99%.

In other Baker Hughes news, EVP Maria C. Borras sold 19,632 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $33.94, for a total transaction of $666,310.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Uwem Ukpong sold 78,492 shares of the stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $27.22, for a total value of $2,136,552.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,226,387 shares of company stock valued at $1,305,169,753. Corporate insiders own 0.34% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc lifted its stake in Baker Hughes by 147.3% in the fourth quarter. NEXT Financial Group Inc now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 704 shares during the last quarter. Synovus Financial Corp bought a new position in Baker Hughes during the fourth quarter worth about $245,000. Toroso Investments LLC bought a new position in Baker Hughes during the fourth quarter worth about $262,000. Forum Financial Management LP acquired a new position in Baker Hughes during the fourth quarter worth approximately $279,000. Finally, CIBC World Markets Inc. raised its stake in Baker Hughes by 9.3% in the fourth quarter. CIBC World Markets Inc. now owns 12,349 shares of the company’s stock valued at $297,000 after buying an additional 1,054 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

A number of research analysts have commented on BKR shares. Susquehanna raised their price target on shares of Baker Hughes from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, January 21st. Royal Bank of Canada upped their target price on shares of Baker Hughes from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, January 21st. The Goldman Sachs Group cut shares of Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 target price for the company. in a research note on Tuesday, March 22nd. UBS Group raised their price target on Baker Hughes from $28.00 to $43.00 and gave the company a “buy” rating in a report on Friday, March 18th. Finally, Stephens raised their target price on Baker Hughes from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, January 21st. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Buy” and a consensus target price of $34.00.

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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Earnings History for Baker Hughes (NYSE:BKR)

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