Baker Hughes (NASDAQ:BKR) Issues Earnings Results

Baker Hughes (NASDAQ:BKR) posted its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share.

Baker Hughes Trading Up 1.7 %

Shares of BKR stock opened at $33.00 on Wednesday. The company has a 50-day moving average of $31.82 and a two-hundred day moving average of $32.55. 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. The firm has a market cap of $33.03 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BKR shares. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Citigroup reduced their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a report on Thursday, February 1st. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction 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. Insiders own 0.25% 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.