Seaport Res Ptn Equities Analysts Boost Earnings Estimates for Baker Hughes (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR - Free Report) - Investment analysts at Seaport Res Ptn increased their Q3 2024 earnings estimates for shares of Baker Hughes in a research report issued to clients and investors on Sunday, April 28th. Seaport Res Ptn analyst T. Curran now expects that the company will post earnings of $0.59 per share for the quarter, up from their previous estimate of $0.57. The consensus estimate for Baker Hughes' current full-year earnings is $2.08 per share.

Several other analysts have also recently issued reports on BKR. Royal Bank of Canada reissued an "outperform" rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Citigroup cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, January 26th. Susquehanna restated a "positive" rating and set a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Barclays cut their target price on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. Finally, Benchmark restated a "buy" rating and set a $40.00 target price on shares of Baker Hughes in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.94.

Baker Hughes Stock Down 2.2 %

Shares of BKR traded down $0.73 during mid-day trading on Wednesday, hitting $31.89. 4,940,882 shares of the company's stock were exchanged, compared to its average volume of 8,686,072. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 0.63 and a beta of 1.42. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. The stock's 50-day moving average is $32.25 and its 200-day moving average is $32.48.

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

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKR. Spire Wealth Management increased its position in Baker Hughes by 256.7% during the 1st quarter. Spire Wealth Management now owns 767 shares of the company's stock worth $26,000 after purchasing an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Baker Hughes during the 4th quarter worth about $33,000. Montag A & Associates Inc. increased its position in Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company's stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Buying and Selling

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

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes's dividend payout ratio is presently 46.93%.

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.