Cowen and Company Lowers Baker Hughes Price Target to $53.00 (BHI)
Equities research analysts at Cowen and Company lowered their price objective on shares of Baker Hughes (NYSE:BHI) from $57.00 to $53.00 in a research note issued to investors on Wednesday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target suggests a potential upside of 8.32% from the stock’s previous close.
A number of other firms have also recently commented on BHI. Analysts at Cleveland Research initiated coverage on shares of Baker Hughes in a research note to investors on Tuesday, October 1st. They set a “neutral” rating on the stock. Separately, analysts at Susquehanna reiterated a “hold” rating on shares of Baker Hughes in a research note to investors on Monday, September 16th. They now have a $50.00 price target on the stock. Finally, analysts at Howard Weil raised their price target on shares of Baker Hughes from $51.00 to $55.00 in a research note to investors on Monday, September 16th. They now have a “sector perform” rating on the stock. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.52.
Shares of Baker Hughes (NYSE:BHI) opened at 48.93 on Wednesday. Baker Hughes has a 52 week low of $39.44 and a 52 week high of $50.88. The stock has a 50-day moving average of $48.66 and a 200-day moving average of $47.04. The company has a market cap of $21.678 billion and a price-to-earnings ratio of 21.73.
Baker Hughes (NYSE:BHI) last announced its earnings results on Friday, July 19th. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.11. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the company posted $1.00 earnings per share. Baker Hughes’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post $2.97 earnings per share for the current fiscal year.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.