FY2024 EPS Estimates for Baker Hughes Cut by Capital One Financial (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Stock analysts at Capital One Financial lowered their FY2024 EPS estimates for shares of Baker Hughes in a report issued on Wednesday, May 1st. Capital One Financial analyst D. Becker now forecasts that the company will earn $2.12 per share for the year, down from their previous estimate of $2.13. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share. Capital One Financial also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS and FY2025 earnings at $2.72 EPS.

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

BKR has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Citigroup lowered their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Morgan Stanley upped their target price on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Finally, TD Cowen increased their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Trading Down 0.0 %

Shares of NASDAQ BKR opened at $31.92 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a one year low of $26.96 and a one year high of $37.58. The business has a 50-day moving average price of $32.31 and a two-hundred day moving average price of $32.48. The firm has a market capitalization of $31.95 billion, a PE ratio of 17.83, a PEG ratio of 0.55 and a beta of 1.44.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of Baker Hughes by 4.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 24,720 shares of the company’s stock worth $873,000 after purchasing an additional 1,006 shares in the last quarter. Xponance Inc. boosted its stake in Baker Hughes by 0.7% during the third quarter. Xponance Inc. now owns 129,134 shares of the company’s stock worth $4,561,000 after buying an additional 876 shares in the last quarter. Tectonic Advisors LLC bought a new stake in Baker Hughes in the 3rd quarter valued at $293,000. Raymond James & Associates raised its stake in shares of Baker Hughes by 4.6% in the 3rd quarter. Raymond James & Associates now owns 410,062 shares of the company’s stock valued at $14,483,000 after buying an additional 17,997 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Baker Hughes by 105.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,836 shares of the company’s stock worth $1,584,000 after acquiring an additional 23,052 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was 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 owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the senior vice president now directly 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 currently owned by corporate insiders.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.