Baker Hughes (NASDAQ:BKR – Free Report) – Seaport Res Ptn lowered their Q4 2023 earnings per share estimates for Baker Hughes in a research note issued on Monday, October 30th. Seaport Res Ptn analyst T. Curran now expects that the company will post earnings per share of $0.46 for the quarter, down from their prior estimate of $0.48. The consensus estimate for Baker Hughes’ current full-year earnings is $1.55 per share.
A number of other research firms also recently commented on BKR. Susquehanna lifted their price target on Baker Hughes from $38.00 to $42.00 and gave the stock a “positive” rating in a research note on Thursday, July 20th. TheStreet upgraded Baker Hughes from a “c+” rating to a “b-” rating in a research note on Tuesday, July 18th. Citigroup lifted their target price on Baker Hughes from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. HSBC lifted their target price on Baker Hughes from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Stifel Nicolaus lifted their price target on Baker Hughes from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.56.
Baker Hughes Stock Up 1.2 %
NASDAQ:BKR opened at $34.84 on Wednesday. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 20.99 and a beta of 1.50. Baker Hughes has a one year low of $26.12 and a one year high of $37.58. The stock has a 50-day simple moving average of $35.54 and a 200 day simple moving average of $32.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.27.
Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.52 billion. Baker Hughes had a return on equity of 9.94% and a net margin of 6.86%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 48.19%.
Insider Transactions at Baker Hughes
In other news, EVP Maria C. Borras sold 10,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $35.20, for a total value of $352,000.00. Following the transaction, the executive vice president now directly owns 59,463 shares of the company’s stock, valued at $2,093,097.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 30,000 shares of company stock valued at $1,069,500. 0.24% of the stock is owned by insiders.
Institutional Investors Weigh In On Baker Hughes
A number of hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in shares of Baker Hughes by 2.6% in the third quarter. Daiwa Securities Group Inc. now owns 131,196 shares of the company’s stock valued at $4,634,000 after buying an additional 3,377 shares during the period. AIA Group Ltd raised its position in Baker Hughes by 17.2% in the third quarter. AIA Group Ltd now owns 147,321 shares of the company’s stock worth $5,203,000 after purchasing an additional 21,569 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Baker Hughes by 7.8% in the third quarter. New Mexico Educational Retirement Board now owns 52,642 shares of the company’s stock worth $1,859,000 after purchasing an additional 3,800 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Baker Hughes in the third quarter worth about $2,637,000. Finally, Wisconsin Capital Management LLC acquired a new position in Baker Hughes in the third quarter worth about $3,271,000. 92.22% of the stock is currently owned by institutional investors.
About Baker Hughes
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.
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