Baker Hughes Receives Buy Rating from Socgen (BHI)
Baker Hughes (NYSE:BHI)‘s stock had its “buy” rating reaffirmed by investment analysts at Socgen in a note issued to investors on Thursday, American Banking News.com reports. They currently have a $61.00 price target on the stock, down from their previous price target of $65.00. Socgen’s target price points to a potential upside of 15.01% from the stock’s previous close.
BHI has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Baker Hughes to $60.00 in a research note to investors on Wednesday. Separately, analysts at Credit Suisse cut their price target on shares of Baker Hughes from $64.00 to $62.00 in a research note to investors on Tuesday. Finally, 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. Fifteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $60.45.
Shares of Baker Hughes (NYSE:BHI) traded up 0.06% on Thursday, hitting $53.53. The stock had a trading volume of 4,043,802 shares. Baker Hughes has a 52 week low of $42.34 and a 52 week high of $58.83. The stock’s 50-day moving average is $53.8 and its 200-day moving average is $51.60. The company has a market cap of $23.726 billion and a P/E ratio of 22.38.
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 last year, the company posted $0.73 earnings per share. Baker Hughes’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Baker Hughes will post $2.85 EPS for the current fiscal year.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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