Baker Hughes Given Consensus Recommendation of “Buy” by Brokerages (NYSE:BHI)
Shares of Baker Hughes (NYSE:BHI) have earned an average rating of “Buy” from the twenty-nine analysts that are currently covering the company, StockRatingsNetwork reports. Ten research 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 company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $80.77.
Shares of Baker Hughes (NYSE:BHI) opened at 68.87 on Friday. Baker Hughes has a 52 week low of $46.25 and a 52 week high of $75.64. The stock’s 50-day moving average is $70.8 and its 200-day moving average is $68.08. The company has a market cap of $29.961 billion and a price-to-earnings ratio of 23.65.
Baker Hughes (NYSE:BHI) last announced its earnings results on Thursday, July 17th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.61 earnings per share. Baker Hughes’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Baker Hughes will post $4.18 EPS for the current fiscal year.
A number of research firms have recently commented on BHI. Analysts at Zacks upgraded shares of Baker Hughes from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $86.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Baker Hughes from $80.00 to $84.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Baker Hughes in a research note on Monday, July 21st. They now have a $77.00 price target on the stock, up previously from $74.00.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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