Seaport Res Ptn Analysts Lower Earnings Estimates for Baker Hughes (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Seaport Res Ptn dropped their Q3 2024 earnings per share (EPS) estimates for shares of Baker Hughes in a research report issued to clients and investors on Sunday, April 7th. Seaport Res Ptn analyst T. Curran now anticipates that the company will post earnings of $0.57 per share for the quarter, down from their previous forecast of $0.60. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Seaport Res Ptn also issued estimates for Baker Hughes’ Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.76 EPS.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. Baker Hughes’s revenue for the quarter was up 15.7% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Barclays lowered their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday. Finally, Citigroup cut their price objective 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. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.87.

Baker Hughes Stock Down 0.2 %

Shares of NASDAQ BKR opened at $34.25 on Tuesday. The stock has a fifty day moving average price of $30.97 and a 200 day moving average price of $32.71. 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 12-month low of $26.81 and a 12-month high of $37.58. The company has a market cap of $34.28 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.71 and a beta of 1.42.

Institutional Trading of Baker Hughes

A number of large investors have recently modified their holdings of BKR. Cambridge Investment Research Advisors Inc. bought a new position in Baker Hughes in the 1st quarter worth approximately $321,000. D.A. Davidson & CO. acquired a new position in Baker Hughes during the 1st quarter worth $230,000. Synovus Financial Corp grew its stake in shares of Baker Hughes by 31.7% in the first quarter. Synovus Financial Corp now owns 13,399 shares of the company’s stock worth $488,000 after purchasing an additional 3,226 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Baker Hughes by 197.9% during the first quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock valued at $1,339,000 after purchasing an additional 24,434 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Baker Hughes by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after purchasing an additional 204,220 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 10,000 shares of the business’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 sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.45%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

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.