Q3 2023 EPS Estimates for Baker Hughes (NASDAQ:BKR) Boosted by Analyst

Baker Hughes (NASDAQ:BKR) – Research analysts at Zacks Research lifted their Q3 2023 earnings per share (EPS) estimates for shares of Baker Hughes in a research report issued to clients and investors on Monday, September 11th. Zacks Research analyst U. Dutta now anticipates that the company will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.38. The consensus estimate for Baker Hughes’ current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Baker Hughes’ FY2023 earnings at $1.52 EPS, Q1 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $2.02 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.56 EPS and FY2025 earnings at $2.41 EPS.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, July 19th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.27 billion. Baker Hughes had a return on equity of 9.01% and a net margin of 4.94%. The firm’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS.

Several other equities research analysts have also issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $37.00 price target on shares of Baker Hughes in a report on Friday, July 21st. Stifel Nicolaus lifted their price target on Baker Hughes from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Wells Fargo & Company boosted their target price on Baker Hughes from $32.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, July 20th. Bank of America boosted their target price on Baker Hughes from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Finally, HSBC boosted their target price on Baker Hughes from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $38.44.

Baker Hughes Stock Down 1.3 %

Shares of Baker Hughes stock traded down $0.49 during trading on Wednesday, hitting $36.61. 584,742 shares of the stock traded hands, compared to its average volume of 6,818,163. The stock has a market cap of $36.96 billion, a P/E ratio of 32.59 and a beta of 1.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.28. Baker Hughes has a twelve month low of $20.42 and a twelve month high of $37.58. The company has a fifty day moving average price of $35.35 and a two-hundred day moving average price of $31.34.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 7th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Baker Hughes’s payout ratio is 70.80%.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 3,195 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $29.93, for a total transaction of $95,626.35. Following the sale, the senior vice president now directly owns 8,147 shares in the company, valued at $243,839.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 3,195 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $29.93, for a total transaction of $95,626.35. Following the sale, the senior vice president now directly owns 8,147 shares in the company, valued at $243,839.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Maria C. Borras sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $36.56, for a total value of $365,600.00. Following the sale, the executive vice president now owns 63,997 shares in the company, valued at $2,339,730.32. The disclosure for this sale can be found here. Insiders sold a total of 165,695 shares of company stock worth $5,871,551 over the last three months. 0.24% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

A number of large investors have recently bought and sold shares of BKR. Norges Bank bought a new stake in Baker Hughes in the fourth quarter valued at $195,343,000. Amundi grew its position in Baker Hughes by 41.8% in the fourth quarter. Amundi now owns 14,337,248 shares of the company’s stock valued at $442,017,000 after acquiring an additional 4,226,117 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Baker Hughes by 98,060.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,167,882 shares of the company’s stock valued at $131,747,000 after acquiring an additional 4,163,636 shares during the period. BlackRock Inc. grew its position in Baker Hughes by 3.9% in the second quarter. BlackRock Inc. now owns 94,764,470 shares of the company’s stock valued at $2,995,505,000 after acquiring an additional 3,521,762 shares during the period. Finally, Dodge & Cox grew its position in Baker Hughes by 9.9% in the first quarter. Dodge & Cox now owns 34,072,354 shares of the company’s stock valued at $983,328,000 after acquiring an additional 3,065,517 shares during the period. 92.22% 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. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.