Baker Hughes Given New $62.00 Price Target at Credit Suisse (BHI)
Stock analysts at Credit Suisse dropped their price target on shares of Baker Hughes (NYSE:BHI) from $64.00 to $62.00 in a report issued on Tuesday, AnalystRatingsNetwork reports. Credit Suisse’s price objective would indicate a potential upside of 16.89% from the stock’s previous close.
Baker Hughes (NYSE:BHI) traded up 0.93% on Tuesday, hitting $53.04. The stock had a trading volume of 4,328,959 shares. Baker Hughes has a one year low of $42.02 and a one year high of $58.83. The stock’s 50-day moving average is $53.97 and its 200-day moving average is $51.59. The company has a market cap of $23.509 billion and a P/E ratio of 21.98.
Baker Hughes (NYSE:BHI) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts expect that Baker Hughes will post $2.87 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Baker Hughes from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday. They now have a $62.00 price target on the stock, down previously from $66.00. Separately, analysts at Iberia Capital downgraded shares of Baker Hughes from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday. Finally, analysts at RBC Capital downgraded shares of Baker Hughes from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $60.00 price target on the stock, down previously from $67.00. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Baker Hughes has an average rating of “Hold” and a consensus target price of $60.68.
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.