Q2 2024 EPS Estimates for Baker Hughes Increased by Atb Cap Markets (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Atb Cap Markets lifted their Q2 2024 EPS estimates for shares of Baker Hughes in a report issued on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $0.50 per share for the quarter, up from their prior estimate of $0.47. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

A number of other equities research analysts have also weighed in on BKR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Morgan Stanley boosted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Finally, Barclays dropped their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes Trading Down 1.4 %

Shares of BKR opened at $32.84 on Friday. The firm’s 50-day moving average price is $32.05 and its 200-day moving average price is $32.54. The firm has a market capitalization of $32.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes 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 transaction, 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 can be accessed through this link. In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in Baker Hughes by 281.2% during the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after buying an additional 1,167 shares during the period. ZWJ Investment Counsel Inc. bought a new position in shares of Baker Hughes in the first quarter worth approximately $397,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Baker Hughes in the first quarter worth approximately $377,000. Checchi Capital Advisers LLC boosted its position in shares of Baker Hughes by 6.4% in the first quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after purchasing an additional 490 shares during the period. Finally, Triumph Capital Management boosted its position in shares of Baker Hughes by 26.4% in the first quarter. Triumph Capital Management now owns 7,936 shares of the company’s stock worth $265,000 after purchasing an additional 1,660 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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.