Brokers Offer Predictions for Baker Hughes’ Q3 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Baker Hughes in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.58. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Baker Hughes’ FY2024 earnings at $2.08 EPS and Q4 2025 earnings at $0.66 EPS.

Several other research firms have also weighed in on BKR. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Susquehanna reaffirmed a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen raised their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup lowered their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $40.87.

Baker Hughes Price Performance

NASDAQ BKR opened at $32.10 on Tuesday. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The stock’s 50-day moving average is $31.49 and its two-hundred day moving average is $32.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The firm has a market cap of $32.13 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were given a dividend of $0.21 per share. The ex-dividend date was Monday, February 12th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hall Laurie J Trustee bought a new position in shares of Baker Hughes in the third quarter valued at approximately $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the fourth quarter valued at approximately $33,000. Montag A & Associates Inc. raised its stake in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Baker Hughes in the third quarter valued at approximately $36,000. Finally, Quarry LP raised its stake in shares of Baker Hughes by 41.3% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.