Baker Hughes Upgraded to Outperform by BMO Capital Markets (BHI)
Baker Hughes (NYSE:BHI) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Baker Hughes (NYSE:BHI) traded up 1.66% during mid-day trading on Wednesday, hitting $50.95. The stock had a trading volume of 372,058 shares. Baker Hughes has a one year low of $39.44 and a one year high of $50.88. The stock’s 50-day moving average is $49.13 and its 200-day moving average is $47.18. The company has a market cap of $22.573 billion and a price-to-earnings ratio of 22.26. Baker Hughes also was the target of some unusual options trading on Monday. Stock investors acquired 6,628 put options on the company. This represents an increase of approximately 353% compared to the average volume of 1,464 put options.
Baker Hughes (NYSE:BHI) last released its earnings data on Friday, July 19th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Baker Hughes will post $2.96 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Baker Hughes in a research note to investors on Friday, October 11th. They now have a $58.00 price target on the stock, up previously from $56.00. Separately, analysts at Susquehanna reiterated a “hold” rating on shares of Baker Hughes in a research note to investors on Wednesday, October 9th. They now have a $50.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Baker Hughes from $57.00 to $53.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.10.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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