Baker Hughes Upgraded to “Buy” at Guggenheim (BHI)
Baker Hughes (NYSE:BHI) was upgraded by equities research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
Shares of Baker Hughes (NYSE:BHI) traded up 1.03% on Monday, hitting $74.035. The stock had a trading volume of 751,981 shares. Baker Hughes has a 52 week low of $46.09 and a 52 week high of $75.64. The stock’s 50-day moving average is $72.6 and its 200-day moving average is $65.28. The company has a market cap of $32.353 billion and a price-to-earnings ratio of 25.45.
Baker Hughes (NYSE:BHI) last announced its earnings results on Thursday, July 17th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $4.18 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BHI. Analysts at Deutsche Bank raised their price target on shares of Baker Hughes from $86.00 to $98.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Baker Hughes in a research note on Friday. They now have a $97.00 price target on the stock, up previously from $96.00. Finally, analysts at Jefferies Group raised their price target on shares of Baker Hughes from $83.00 to $87.00 in a research note on Friday. They now have a “buy” rating on the stock. Eleven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $79.91.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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