Baker Hughes to Post Q4 2022 Earnings of $0.39 Per Share, Jefferies Financial Group Forecasts (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKRGet Rating) – Investment analysts at Jefferies Financial Group issued their Q4 2022 earnings per share estimates for shares of Baker Hughes in a research note issued on Thursday, November 17th. Jefferies Financial Group analyst L. Byrne expects that the company will earn $0.39 per share for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for Baker Hughes’ current full-year earnings is $0.86 per share. Jefferies Financial Group also issued estimates for Baker Hughes’ FY2023 earnings at $1.74 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $2.68 EPS.

BKR has been the subject of several other reports. Wells Fargo & Company downgraded Baker Hughes from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $32.00 to $29.00 in a research report on Wednesday, October 26th. They noted that the move was a valuation call. Citigroup dropped their target price on Baker Hughes from $40.00 to $36.00 in a research report on Tuesday, October 4th. Bank of America increased their target price on Baker Hughes from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, October 20th. ATB Capital dropped their target price on Baker Hughes to $37.00 in a research report on Thursday, October 20th. Finally, Barclays dropped their target price on Baker Hughes to $38.00 in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Baker Hughes Price Performance

Shares of BKR stock opened at $29.13 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. Baker Hughes has a twelve month low of $20.42 and a twelve month high of $39.78. The company has a market cap of $29.38 billion, a P/E ratio of -63.33 and a beta of 1.52. The business has a fifty day simple moving average of $25.53 and a 200 day simple moving average of $27.90.

Baker Hughes (NASDAQ:BKRGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the company earned $0.16 EPS. Baker Hughes’s revenue for the quarter was up 5.3% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BKR. Vanguard Group Inc. lifted its position in shares of Baker Hughes by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 119,365,664 shares of the company’s stock valued at $2,501,905,000 after buying an additional 6,456,576 shares during the last quarter. Capital World Investors lifted its position in shares of Baker Hughes by 9.4% during the 1st quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock valued at $4,241,658,000 after buying an additional 10,021,569 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Baker Hughes by 9.9% during the 1st quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock valued at $3,450,984,000 after buying an additional 8,526,488 shares during the last quarter. BlackRock Inc. lifted its position in shares of Baker Hughes by 5.6% during the 3rd quarter. BlackRock Inc. now owns 84,632,999 shares of the company’s stock valued at $1,773,908,000 after buying an additional 4,474,453 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Baker Hughes by 2.5% during the 3rd quarter. State Street Corp now owns 66,704,955 shares of the company’s stock valued at $1,398,136,000 after buying an additional 1,616,513 shares during the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Insider Activity

In other news, Director Gregory D. Brenneman sold 85,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $31.23, for a total value of $2,654,550.00. Following the transaction, the director now owns 16,842 shares in the company, valued at $525,975.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Baker Hughes news, EVP Neil Saunders sold 118,492 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total value of $3,630,594.88. Following the transaction, the executive vice president now owns 54,417 shares of the company’s stock, valued at $1,667,336.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory D. Brenneman sold 85,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.23, for a total value of $2,654,550.00. Following the completion of the transaction, the director now directly owns 16,842 shares in the company, valued at approximately $525,975.66. The disclosure for this sale can be found here. Insiders have sold 275,492 shares of company stock worth $8,532,265 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, November 4th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.18. Baker Hughes’s dividend payout ratio (DPR) is currently -165.22%.

Baker Hughes Company Profile

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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 and Estimates for Baker Hughes (NASDAQ:BKR)

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