Baker Hughes Price Target Increased to $56.00 by Analysts at Global Hunter Securities (BHI)
Investment analysts at Global Hunter Securities raised their target price on shares of Baker Hughes (NYSE:BHI) from $47.00 to $56.00 in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Global Hunter Securities’ price objective would indicate a potential downside of 3.83% from the company’s current price.
Baker Hughes (NYSE:BHI) traded up 2.03% on Monday, hitting $58.23. 5,930,321 shares of the company’s stock traded hands. Baker Hughes has a one year low of $39.44 and a one year high of $50.72. The stock has a 50-day moving average of $47.7 and a 200-day moving average of $46.52. The company has a market cap of $25.809 billion and a P/E ratio of 23.87.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.03. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, October 31st.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Baker Hughes from $54.00 to $64.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Baker Hughes from $58.00 to $65.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Baker Hughes from $58.00 to $67.00 in a research note to investors on Sunday, October 20th. They now have an “outperform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $59.15.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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