Baker Hughes to Post Q2 2024 Earnings of $0.50 Per Share, Atb Cap Markets Forecasts (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Stock analysts at Atb Cap Markets upped their Q2 2024 earnings estimates for Baker Hughes in a report issued on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their prior forecast of $0.47. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

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

Other equities analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. 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 decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Stock Down 1.4 %

Shares of NASDAQ:BKR opened at $32.84 on Friday. The business’s 50 day moving average is $32.05 and its 200 day moving average is $32.53. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.63 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the stock. Spire Wealth Management boosted its position in shares of Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Baker Hughes during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new stake in Baker Hughes in the 4th quarter worth approximately $33,000. Montag A & Associates Inc. boosted its holdings in Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $36,000. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Baker Hughes Dividend Announcement

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 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.