Jefferies Group Brokers Raise Earnings Estimates for BHP Billiton PLC (BBL)
BHP Billiton PLC (NYSE:BBL) – Analysts at Jefferies Group raised their FY2017 EPS estimates for BHP Billiton PLC in a research note issued on Friday. Jefferies Group analyst C. Lafemina now expects that the brokerage will post earnings per share of $1.33 for the year, up from their prior estimate of $1.12. Jefferies Group has a “Buy” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for BHP Billiton PLC’s FY2018 earnings at $1.62 EPS.
BBL has been the subject of several other research reports. Deutsche Bank AG reiterated a “hold” rating on shares of BHP Billiton PLC in a research note on Wednesday, September 7th. Zacks Investment Research upgraded BHP Billiton PLC from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, October 4th. RBC Capital Markets reiterated a “sector perform” rating on shares of BHP Billiton PLC in a research note on Friday, October 7th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BHP Billiton PLC in a research note on Tuesday, June 21st. Finally, Beaufort Securities reiterated a “hold” rating on shares of BHP Billiton PLC in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.
Shares of BHP Billiton PLC (NYSE:BBL) opened at 29.55 on Monday. The stock’s market cap is $78.64 billion. The firm has a 50-day moving average price of $28.37 and a 200 day moving average price of $25.98. BHP Billiton PLC has a 52-week low of $16.36 and a 52-week high of $35.36.
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The company also recently declared a dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, August 31st.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBL. Emerald Acquisition Ltd. purchased a new position in BHP Billiton PLC during the second quarter valued at approximately $16,999,000. Polaris Capital Management LLC raised its position in BHP Billiton PLC by 15.8% in the second quarter. Polaris Capital Management LLC now owns 4,034,548 shares of the mining company’s stock valued at $102,397,000 after buying an additional 549,800 shares during the period. GLG Partners LP raised its position in BHP Billiton PLC by 73.4% in the second quarter. GLG Partners LP now owns 1,287,581 shares of the mining company’s stock valued at $32,679,000 after buying an additional 545,060 shares during the period. Wellington Management Group LLP raised its position in BHP Billiton PLC by 3,713.4% in the first quarter. Wellington Management Group LLP now owns 483,313 shares of the mining company’s stock valued at $10,986,000 after buying an additional 470,639 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in BHP Billiton PLC by 30.6% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,796,112 shares of the mining company’s stock valued at $43,825,000 after buying an additional 420,400 shares during the period. 3.52% of the stock is currently owned by institutional investors.
About BHP Billiton PLC
BHP Billiton Plc is engaged in exploration, development, production, processing and marketing of minerals, in respect of iron ore, metallurgical and energy coal, copper, aluminum, manganese, uranium, nickel, silver and potash, and exploration, development, production and marketing of conventional and unconventional oil and gas.
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