Zacks: Brokerages Expect Baker Hughes A GE Co (BHGE) Will Post Earnings of $0.21 Per Share

Brokerages expect Baker Hughes A GE Co (NYSE:BHGE) to post earnings per share of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Baker Hughes A GE’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.18. Baker Hughes A GE posted earnings per share of $0.05 during the same quarter last year, which would suggest a positive year-over-year growth rate of 320%. The business is scheduled to report its next earnings results before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Baker Hughes A GE will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.62 to $0.78. For the next year, analysts anticipate that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.15 to $1.75. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Baker Hughes A GE.

Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings results on Friday, July 20th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.57 billion. Baker Hughes A GE had a negative net margin of 0.37% and a positive return on equity of 0.43%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS.

BHGE has been the topic of a number of research reports. B. Riley restated a “buy” rating on shares of Baker Hughes A GE in a research report on Monday, September 10th. Bank of America started coverage on Baker Hughes A GE in a research note on Wednesday. They issued a “buy” rating on the stock. Zacks Investment Research downgraded Baker Hughes A GE from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Barclays restated a “buy” rating and set a $35.00 target price on shares of Baker Hughes A GE in a research report on Thursday, October 11th. Finally, Morgan Stanley started coverage on Baker Hughes A GE in a research report on Tuesday, September 18th. They set an “overweight” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.57.

In other news, VP Kurt Camilleri sold 2,513 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthias L. Heilmann sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $408,000.00. Following the transaction, the insider now directly owns 3,743 shares in the company, valued at $127,262. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in Baker Hughes A GE by 521.2% in the second quarter. Millennium Management LLC now owns 4,112,049 shares of the company’s stock worth $135,821,000 after purchasing an additional 3,450,049 shares during the period. Indus Capital Partners LLC bought a new stake in shares of Baker Hughes A GE during the second quarter valued at about $28,695,000. Jane Street Group LLC raised its stake in shares of Baker Hughes A GE by 949.2% during the second quarter. Jane Street Group LLC now owns 621,120 shares of the company’s stock valued at $20,516,000 after purchasing an additional 561,923 shares in the last quarter. TCW Group Inc. raised its stake in shares of Baker Hughes A GE by 13.5% during the second quarter. TCW Group Inc. now owns 4,409,766 shares of the company’s stock valued at $145,654,000 after purchasing an additional 523,729 shares in the last quarter. Finally, Becker Capital Management Inc. raised its stake in shares of Baker Hughes A GE by 64.1% during the second quarter. Becker Capital Management Inc. now owns 1,309,745 shares of the company’s stock valued at $43,261,000 after purchasing an additional 511,585 shares in the last quarter. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

BHGE stock traded down $0.52 during midday trading on Tuesday, hitting $29.94. 2,711,521 shares of the stock traded hands, compared to its average volume of 3,478,842. The firm has a market cap of $12.32 billion, a PE ratio of 76.77, a P/E/G ratio of 5.27 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.90. Baker Hughes A GE has a 1-year low of $25.53 and a 1-year high of $37.76.

Baker Hughes A GE Company Profile

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.

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Earnings History and Estimates for Baker Hughes A GE (NYSE:BHGE)

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