Baker Hughes (NASDAQ:BKR - Get Free Report) had its target price dropped by equities research analysts at The Goldman Sachs Group from $42.00 to $41.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 3.48% from the stock's previous close.
A number of other research firms have also recently weighed in on BKR. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Evercore ISI dropped their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Morgan Stanley decreased their target price on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, TD Securities decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.50.
Check Out Our Latest Report on Baker Hughes
Baker Hughes Stock Down 0.5%
BKR stock traded down $0.21 during midday trading on Wednesday, hitting $39.62. 3,602,724 shares of the company's stock were exchanged, compared to its average volume of 7,139,041. The stock has a market capitalization of $39.25 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91. Baker Hughes has a 12-month low of $32.25 and a 12-month high of $49.40. The firm has a 50 day moving average price of $37.57 and a 200-day moving average price of $41.03. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.
Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.
Hedge Funds Weigh In On Baker Hughes
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKR. Geode Capital Management LLC grew its stake in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Baker Hughes in the 1st quarter valued at $360,000. Whalen Wealth Management Inc. bought a new position in shares of Baker Hughes in the first quarter valued at approximately $544,000. Huntington National Bank lifted its position in Baker Hughes by 16.0% during the 4th quarter. Huntington National Bank now owns 116,303 shares of the company's stock worth $4,771,000 after buying an additional 16,010 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Baker Hughes by 34.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company's stock valued at $3,246,000 after acquiring an additional 19,048 shares during the last quarter. 92.06% of the stock is owned by institutional investors.
Baker Hughes Company Profile
(
Get Free Report)
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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