Baker Hughes Incorporated (BHI) Given Average Recommendation of “Hold” by Brokerages
Shares of Baker Hughes Incorporated (NYSE:BHI) have been given a consensus rating of “Hold” by the thirty-four brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $61.90.
A number of research analysts have issued reports on BHI shares. Citigroup Inc. reissued a “buy” rating and set a $70.00 price objective (down from $75.00) on shares of Baker Hughes in a report on Saturday, March 11th. BMO Capital Markets reissued a “buy” rating and set a $69.00 price objective on shares of Baker Hughes in a report on Thursday, April 13th. Royal Bank Of Canada reissued a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a report on Monday, April 3rd. Zacks Investment Research raised Baker Hughes from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, March 29th. Finally, Tudor Pickering started coverage on Baker Hughes in a report on Thursday, March 23rd. They set a “buy” rating for the company.
Baker Hughes (NYSE:BHI) traded down 1.13% during trading on Monday, hitting $56.64. 656,753 shares of the stock traded hands. The stock’s market cap is $24.10 billion. The company has a 50-day moving average price of $57.13 and a 200 day moving average price of $60.53. Baker Hughes has a one year low of $41.74 and a one year high of $68.59.
Baker Hughes (NYSE:BHI) last issued its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.17. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Baker Hughes had a negative return on equity of 4.55% and a negative net margin of 19.99%. Baker Hughes’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the business earned ($1.58) earnings per share. Analysts expect that Baker Hughes will post $0.02 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Dodge & Cox bought a new position in Baker Hughes during the fourth quarter valued at about $1,667,596,000. Bayesian Capital Management LP bought a new position in Baker Hughes during the fourth quarter valued at about $1,423,000. Putnam Investments LLC raised its position in Baker Hughes by 58.5% in the fourth quarter. Putnam Investments LLC now owns 915,799 shares of the oilfield services provider’s stock valued at $59,499,000 after buying an additional 338,130 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Baker Hughes by 47.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 339,380 shares of the oilfield services provider’s stock valued at $20,302,000 after buying an additional 109,523 shares during the last quarter. Finally, Lyell Wealth Management LP bought a new position in Baker Hughes during the fourth quarter valued at about $1,941,000. Institutional investors own 91.74% of the company’s stock.
About Baker Hughes
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides products and services for other businesses, including downstream chemicals, and process and pipeline services.
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