Equities Analysts Set Expectations for Baker Hughes' Q3 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR - Free Report) - Analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of Baker Hughes in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now expects that the company will earn $0.55 per share for the quarter, down from their previous forecast of $0.58. The consensus estimate for Baker Hughes' current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Baker Hughes' FY2024 earnings at $2.08 EPS and Q4 2025 earnings at $0.66 EPS.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share.

BKR has been the subject of several other research reports. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. Barclays decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, January 26th. Susquehanna reiterated a "positive" rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Wolfe Research cut shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $40.87.

Baker Hughes Trading Down 1.1 %

Shares of BKR stock traded down $0.35 during trading hours on Tuesday, hitting $32.10. 5,851,828 shares of the company's stock traded hands, compared to its average volume of 8,907,065. The stock's 50 day simple moving average is $31.44 and its 200 day simple moving average is $32.62. The stock has a market cap of $32.13 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. This is a boost from Baker Hughes's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes's dividend payout ratio (DPR) is presently 43.98%.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares of the company's stock, valued at $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BKR. Louisiana State Employees Retirement System bought a new position in shares of Baker Hughes during the fourth quarter valued at about $4,813,000. Nordea Investment Management AB lifted its position in shares of Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company's stock valued at $49,732,000 after purchasing an additional 1,283,296 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company's stock valued at $31,983,000 after purchasing an additional 97,108 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Baker Hughes by 8.7% during the fourth quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company's stock valued at $106,365,000 after purchasing an additional 248,125 shares in the last quarter. Finally, DDD Partners LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at about $11,054,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.