FY2024 EPS Estimates for Baker Hughes Increased by Analyst

Baker Hughes (NASDAQ:BKR) – Stock analysts at Capital One Financial upped their FY2024 earnings estimates for Baker Hughes in a report issued on Monday, November 4th. Capital One Financial analyst D. Becker now anticipates that the company will post earnings per share of $2.30 for the year, up from their prior forecast of $2.26. The consensus estimate for Baker Hughes’ current full-year earnings is $2.28 per share. Capital One Financial also issued estimates for Baker Hughes’ Q1 2025 earnings at $0.52 EPS.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis.

Other research analysts have also issued reports about the stock. Barclays raised their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Stock Up 10.8 %

BKR opened at $42.74 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company’s 50-day moving average is $36.26 and its 200 day moving average is $34.70. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $43.23. The firm has a market capitalization of $42.29 billion, a P/E ratio of 19.17, a PEG ratio of 0.64 and a beta of 1.38.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the company. Twin Tree Management LP grew its stake in Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after acquiring an additional 219,060 shares in the last quarter. National Pension Service grew its stake in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Baker Hughes by 20.5% during the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after acquiring an additional 123,689 shares in the last quarter. National Bank of Canada FI grew its stake in Baker Hughes by 4.7% during the first quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock valued at $28,129,000 after acquiring an additional 39,031 shares in the last quarter. Finally, Hixon Zuercher LLC purchased a new position in Baker Hughes during the third quarter valued at approximately $1,980,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.