Zacks Research Research Analysts Decrease Earnings Estimates for Baker Hughes (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for Baker Hughes in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.55 per share for the quarter, down from their previous forecast of $0.58. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Baker Hughes’ FY2024 earnings at $2.08 EPS and Q4 2025 earnings at $0.66 EPS.

BKR has been the subject of several other research reports. Barclays decreased their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.87.

Baker Hughes Trading Down 0.2 %

NASDAQ BKR opened at $32.02 on Tuesday. The company has a fifty day moving average of $31.55 and a 200 day moving average of $32.60. The company has a market capitalization of $32.05 billion, a PE ratio of 16.76, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were given a $0.21 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Insider Buying and Selling

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the 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 completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds have recently bought and sold shares of the business. Hall Laurie J Trustee purchased a new stake in shares of Baker Hughes in the third quarter valued at about $28,000. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes in the 4th quarter valued at about $33,000. Montag A & Associates Inc. grew its stake in shares of 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 buying an additional 500 shares during the period. OFI Invest Asset Management acquired a new stake in Baker Hughes during the third quarter worth $36,000. Finally, Quarry LP increased its position in shares of Baker Hughes by 41.3% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after purchasing an additional 331 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.