Baker Hughes (NASDAQ:BKR) Price Target Raised to $54.00

Key Points

• Royal Bank Of Canada has raised its price target for Baker Hughes from $50.00 to $54.00, indicating a potential upside of 14.04% from the company’s previous close.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, surpassing analysts' expectations of $0.55, despite a 3.2% decline in revenue compared to the previous year.
• The company currently holds a consensus rating of “Moderate Buy” from analysts, with an average price target of $52.57.

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price objective boosted by stock analysts at Royal Bank Of Canada from $50.00 to $54.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 14.04% from the company's previous close.

A number of other research firms also recently weighed in on BKR. The Goldman Sachs Group decreased 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 Wednesday, July 2nd. Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target for the company. Evercore ISI raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Morgan Stanley lifted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $52.57.

Baker Hughes Stock Down 1.0%

Shares of BKR stock traded down $0.50 during trading hours on Thursday, hitting $47.35. 496,180 shares of the company were exchanged, compared to its average volume of 7,514,740. The business has a 50 day moving average of $45.85 and a two-hundred day moving average of $41.32. 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 52 week low of $33.60 and a 52 week high of $50.92. The company has a market capitalization of $46.68 billion, a PE ratio of 15.49, a PEG ratio of 2.21 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Insider Transactions at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares of the company's stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 553,068 shares of company stock valued at $24,712,651. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the business. Wayfinding Financial LLC bought a new position in Baker Hughes in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC grew its position in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Baker Hughes in the 1st quarter valued at $30,000. Grove Bank & Trust grew its position in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in shares of Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company's stock worth $33,000 after buying an additional 326 shares in the last quarter. Hedge funds and other institutional investors 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.

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