Baker Hughes (BKR) Set to Announce Earnings on Tuesday

Baker Hughes (NASDAQ:BKR) will be releasing its earnings data after the market closes on Tuesday, April 23rd. Analysts expect Baker Hughes to post earnings of $0.40 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, analysts expect Baker Hughes to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $32.45 on Tuesday. The company has a fifty day simple moving average of $31.44 and a two-hundred day simple moving average of $32.62. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a $0.21 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. Baker Hughes’s payout ratio is 43.98%.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake in shares of Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after acquiring an additional 331 shares during the period. Covestor Ltd increased its stake in shares of Baker Hughes by 104.7% during the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock worth $49,000 after acquiring an additional 690 shares during the period. Lazard Asset Management LLC grew its position in Baker Hughes by 44.6% during the second quarter. Lazard Asset Management LLC now owns 2,522 shares of the company’s stock worth $79,000 after buying an additional 778 shares during the period. Belpointe Asset Management LLC grew its position in Baker Hughes by 40.6% during the first quarter. Belpointe Asset Management LLC now owns 2,634 shares of the company’s stock worth $76,000 after buying an additional 760 shares during the period. Finally, Advisory Services Network LLC grew its position in Baker Hughes by 45.2% during the first quarter. Advisory Services Network LLC now owns 2,761 shares of the company’s stock worth $80,000 after buying an additional 859 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen lifted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.87.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. 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.