Erste Group Bank Forecasts BHP Group FY2027 Earnings

Key Points

• Erste Group Bank lowered its FY2027 EPS forecast for BHP Group to $4.98 from $5.02, below the current consensus estimate of $5.05; it projects FY2028 EPS of $4.80.
• BHP shares opened at $86.78, while analysts maintain a consensus “Hold” rating and an average price target of $78.00. Recent recommendations include downgrades from Bank of America, Zacks Research and Wall Street Zen, alongside a reaffirmed “Buy” rating from Deutsche Bank.
• BHP recently paid a dividend of $1.98 per share, and institutional ownership activity was mixed, with several investment firms increasing their positions during the third quarter.

BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) - Erste Group Bank dropped their FY2027 earnings estimates for BHP Group in a research note issued to investors on Thursday, October 8th. Erste Group Bank analyst S. Lingnau now anticipates that the mining company will post earnings of $4.98 per share for the year, down from their prior estimate of $5.02. The consensus estimate for BHP Group's current full-year earnings is $5.05 per share. Erste Group Bank also issued estimates for BHP Group's FY2028 earnings at $4.80 EPS.

BHP has been the subject of several other reports. Bank of America cut their price objective on BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research report on Monday, June 22nd. Zacks Research lowered BHP Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded BHP Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Wall Street Zen downgraded BHP Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, BHP Group currently has a consensus rating of "Hold" and a consensus target price of $78.00.

BHP Group Stock Up 0.1%

BHP stock opened at $86.78 on Tuesday. The company's 50 day simple moving average is $89.10 and its 200-day simple moving average is $84.70. BHP Group has a 12 month low of $52.18 and a 12 month high of $98.71. The company has a current ratio of 1.88, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.

BHP Group Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Friday, September 4th were paid a dividend of $1.98 per share. This represents a dividend yield of 438.0%. The ex-dividend date of this dividend was Friday, September 4th.

Institutional Investors Weigh In On BHP Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its position in shares of BHP Group by 5.7% in the third quarter. Avior Wealth Management LLC now owns 4,390 shares of the mining company's stock valued at $372,000 after buying an additional 238 shares during the last quarter. JGP Wealth Management LLC purchased a new position in shares of BHP Group during the third quarter valued at approximately $222,000. Riversedge Advisors LLC boosted its position in BHP Group by 26.8% during the third quarter. Riversedge Advisors LLC now owns 6,771 shares of the mining company's stock worth $574,000 after acquiring an additional 1,429 shares during the last quarter. Wedmont Private Capital boosted its position in BHP Group by 10.3% during the third quarter. Wedmont Private Capital now owns 5,125 shares of the mining company's stock worth $435,000 after acquiring an additional 480 shares during the last quarter. Finally, Breakwater Capital Group boosted its position in BHP Group by 2.7% during the third quarter. Breakwater Capital Group now owns 7,834 shares of the mining company's stock worth $665,000 after acquiring an additional 207 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

About BHP Group

BHP Group Limited is a global resources company headquartered in Melbourne, Australia. Its principal activities include the exploration, development and production of mineral resources, with a portfolio focused on commodities that support infrastructure, electrification and economic growth.

The company is a major producer of iron ore, which it supplies to steelmakers, and copper, used in electrical equipment, construction and renewable-energy technologies. BHP has also been involved in metallurgical coal and potash, an agricultural nutrient.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.