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

Baker Hughes (NASDAQ:BKR) – Equities research analysts at Seaport Res Ptn increased their Q3 2024 earnings estimates for Baker Hughes in a research note issued on Sunday, April 28th. Seaport Res Ptn analyst T. Curran now forecasts that the company will post earnings per share of $0.59 for the quarter, up from their previous estimate of $0.57. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share.

Several other research firms also recently commented on BKR. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Finally, TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Trading Down 2.2 %

BKR stock opened at $31.89 on Wednesday. The company has a market capitalization of $31.92 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company’s 50 day moving average price is $32.25 and its two-hundred day moving average price is $32.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

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

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Insider Activity

In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, 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 owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently modified their holdings of BKR. Norges Bank purchased a new position in shares of Baker Hughes in the 4th quarter worth about $551,555,000. Cardano Risk Management B.V. purchased a new position in Baker Hughes in the 1st quarter worth about $117,083,000. FMR LLC raised its position in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after buying an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC raised its position in Baker Hughes by 846.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after buying an additional 2,127,675 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Baker Hughes by 47.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after buying an additional 1,822,487 shares during the last quarter. Hedge funds and other institutional investors own 92.06% 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.