Research Analysts Issue Forecasts for Baker Hughes’ Q2 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Investment analysts at Seaport Res Ptn upped their Q2 2024 EPS estimates for Baker Hughes in a note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst T. Curran now expects that the company will earn $0.48 per share for the quarter, up from their prior forecast of $0.46. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share. Seaport Res Ptn also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $2.66 EPS.

Baker Hughes (NASDAQ:BKR) last posted 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 analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share.

Several other analysts have also recently weighed in on BKR. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Citigroup decreased their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. The Goldman Sachs Group lifted their price objective on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Stock Down 1.8 %

Shares of BKR opened at $32.62 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $32.48. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a market capitalization of $32.65 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management increased its stake in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after buying an additional 552 shares during the period. Redmont Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the first quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new position in Baker Hughes during the fourth quarter worth about $33,000. Montag A & Associates Inc. lifted its position in Baker Hughes by 100.0% in the fourth 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 stake in Baker Hughes in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction 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 owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James E. Apostolides sold 5,000 shares of the firm’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 transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 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.