Baker Hughes to Post Q2 2024 Earnings of $0.50 Per Share, Atb Cap Markets Forecasts (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR - Free Report) - Atb Cap Markets lifted their Q2 2024 earnings per share estimates for Baker Hughes in a note issued to investors on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.47. The consensus estimate for Baker Hughes' current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes' Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Baker Hughes's revenue for the quarter was up 12.3% on a year-over-year basis.

BKR has been the topic of a number of other research reports. TD Cowen lifted their target price on Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Wolfe Research lowered Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. Citigroup lowered their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 26th. Susquehanna reaffirmed a "positive" rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.94.

Baker Hughes Stock Down 1.4 %

Shares of NASDAQ:BKR traded down $0.46 during trading on Friday, hitting $32.84. 7,496,435 shares of the company's stock traded hands, compared to its average volume of 8,756,129. The company has a 50-day moving average price of $31.97 and a 200-day moving average price of $32.56. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. Baker Hughes's payout ratio is 46.93%.

Insider Activity

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

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently bought and sold shares of BKR. CWM LLC increased its holdings in Baker Hughes by 29.5% in the 3rd quarter. CWM LLC now owns 15,268 shares of the company's stock worth $539,000 after purchasing an additional 3,475 shares in the last quarter. AE Wealth Management LLC increased its holdings in Baker Hughes by 37.4% in the 3rd quarter. AE Wealth Management LLC now owns 40,852 shares of the company's stock worth $1,443,000 after purchasing an additional 11,112 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Baker Hughes in the 3rd quarter worth about $201,000. Czech National Bank increased its stake in shares of Baker Hughes by 47.1% in the third quarter. Czech National Bank now owns 176,467 shares of the company's stock valued at $6,233,000 after buying an additional 56,506 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Baker Hughes by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 424,647 shares of the company's stock valued at $14,999,000 after buying an additional 10,083 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Company Profile

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.