Baker Hughes (NASDAQ:BKR) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Baker Hughes (NASDAQ:BKR) posted its quarterly earnings results on Tuesday. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03, RTT News reports. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $32.67 on Thursday. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market cap of $32.70 billion, a PE ratio of 17.10, a P/E/G ratio of 0.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The business has a 50-day simple moving average of $31.89 and a 200-day simple moving average of $32.55.

Baker Hughes Announces Dividend

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 given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 43.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays reduced their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. TD Cowen lifted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Citigroup reduced their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Finally, UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction 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 SEC, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.