Baker Hughes Hits New 1-Year High at $75.16 (BHI)
Shares of Baker Hughes (NYSE:BHI) reached a new 52-week high during trading on Tuesday , Analyst RN reports. The stock traded as high as $75.16 and last traded at $74.78, with a volume of 2,088,054 shares traded. The stock had previously closed at $74.45.
A number of research firms have recently commented on BHI. Analysts at Drexel Hamilton initiated coverage on shares of Baker Hughes in a research note on Friday, June 20th. They set a “buy” rating and a $90.00 price target on the stock. Separately, analysts at Global Hunter Securities upgraded shares of Baker Hughes from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $80.00 price target on the stock, up previously from $60.00. Finally, analysts at Credit Suisse raised their price target on shares of Baker Hughes from $83.00 to $96.00 in a research note on Wednesday, May 14th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $75.95.
The stock has a 50-day moving average of $71.1 and a 200-day moving average of $63.45. The company has a market cap of $32.493 billion and a P/E ratio of 28.54.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $4.15 earnings per share for the current fiscal year.
In other Baker Hughes news, SVP Alan R. Crain, Jr. unloaded 16,796 shares of the stock on the open market in a transaction dated Friday, June 20th. The shares were sold at an average price of $73.69, for a total value of $1,237,697.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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