Baker Hughes Company (NASDAQ:BKR) Plans Quarterly Dividend of $0.23

Key Points

• Baker Hughes Company has announced a quarterly dividend of $0.23 per share, with stockholders of record set to receive it on November 14th, reflecting an annualized dividend yield of 1.9%.
• The company maintains a dividend payout ratio of 33.8%, indicating that its dividend is well-covered by earnings, and analysts expect it to continue this trend with earnings projected at $2.99 per share next year.
• Research firms have recently increased their price targets for Baker Hughes, with a consensus average of $52.91 and a majority rating the stock as a "Moderate Buy."

Baker Hughes Company (NASDAQ:BKR - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Tuesday, November 4th will be paid a dividend of 0.23 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 4th.

Baker Hughes has a dividend payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Baker Hughes to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.8%.

Baker Hughes Price Performance

BKR stock opened at $48.89 on Friday. The firm has a 50 day moving average of $46.44 and a 200-day moving average of $41.60. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes has a 12 month low of $33.60 and a 12 month high of $50.92. The firm has a market capitalization of $48.20 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $5.09 billion during the quarter. As a group, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BKR. UBS Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. BMO Capital Markets restated an "outperform" rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. TD Cowen lifted their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research report on Wednesday, October 8th. Finally, Susquehanna lifted their target price on shares of Baker Hughes from $52.00 to $56.00 and gave the company a "positive" rating in a research report on Thursday, October 2nd. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $52.91.

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.

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