Baker Hughes Downgraded to “Market Perform” at Cowen and Company (BHI)
Baker Hughes (NYSE:BHI) was downgraded by investment analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $56.00 price target on the stock, down from their previous price target of $70.00. Cowen and Company’s price target would indicate a potential upside of 6.08% from the stock’s previous close.
A number of other analysts have also recently weighed in on BHI. Analysts at Susquehanna reiterated a “neutral” rating on shares of Baker Hughes in a research note to investors on Tuesday, December 17th. They now have a $57.00 price target on the stock, down previously from $60.00. Separately, analysts at Barclays raised their price target on shares of Baker Hughes from $71.00 to $81.00 in a research note to investors on Tuesday, December 17th. They now have an “overweight” rating on the stock. Finally, analysts at Robert W. Baird initiated coverage on shares of Baker Hughes in a research note to investors on Thursday, December 12th. They set a “neutral” rating on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Baker Hughes has a consensus rating of “Buy” and a consensus price target of $60.85.
Shares of Baker Hughes (NYSE:BHI) traded down 1.14% during mid-day trading on Tuesday, hitting $52.79. The stock had a trading volume of 4,494,237 shares. Baker Hughes has a 1-year low of $41.64 and a 1-year high of $58.83. The stock’s 50-day moving average is $54.70 and its 200-day moving average is $51.32. The company has a market cap of $23.398 billion and a P/E ratio of 22.33.
Baker Hughes (NYSE:BHI) last issued its quarterly 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. 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.
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