Societe Generale Increases Baker Hughes Price Target to $65.00 (BHI)
Research analysts at Societe Generale increased their price target on shares of Baker Hughes (NYSE:BHI) from $58.00 to $65.00 in a report released on Monday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. Societe Generale’s price target would suggest a potential upside of 11.63% from the company’s current price.
A number of other firms have also recently commented on BHI. Analysts at Global Hunter Securities raised their price target on shares of Baker Hughes from $47.00 to $56.00 in a research note to investors on Monday, October 21st. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $59.15.
Shares of Baker Hughes (NYSE:BHI) traded up 2.03% during mid-day trading on Monday, hitting $58.23. The stock had a trading volume of 5,930,321 shares. Baker Hughes has a 52-week low of $39.44 and a 52-week high of $50.72. The stock’s 50-day moving average is $47.7 and its 200-day moving average is $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 released its earnings data 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. Analysts expect that Baker Hughes will post $3.05 EPS 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.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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