Baker Hughes, a GE company Class A (NASDAQ:BHGE) – Stock analysts at Jefferies Group decreased their Q3 2017 earnings estimates for Baker Hughes, a GE company Class A in a research report issued to clients and investors on Wednesday. Jefferies Group analyst B. Handler now anticipates that the company will earn $0.11 per share for the quarter, down from their prior estimate of $0.27. Jefferies Group currently has a “Hold” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Baker Hughes, a GE company Class A’s Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $0.60 EPS, FY2018 earnings at $1.20 EPS and FY2019 earnings at $2.20 EPS.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last posted its quarterly earnings data on Friday, July 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.27). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned ($0.90) EPS. The firm’s revenue was down .2% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Jefferies Group Equities Analysts Cut Earnings Estimates for Baker Hughes, a GE company Class A (BHGE)” was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/13/jefferies-group-equities-analysts-cut-earnings-estimates-for-baker-hughes-a-ge-company-class-a-bhge.html.

Several other brokerages also recently issued reports on BHGE. Seaport Global Securities reissued a “neutral” rating on shares of Baker Hughes, a GE company Class A in a research note on Thursday, July 20th. Barclays PLC initiated coverage on shares of Baker Hughes, a GE company Class A in a research note on Thursday, August 31st. They set an “overweight” rating and a $41.00 target price on the stock. BMO Capital Markets reissued a “hold” rating and set a $43.00 target price (down from $65.00) on shares of Baker Hughes, a GE company Class A in a research note on Thursday, July 13th. FBR & Co initiated coverage on shares of Baker Hughes, a GE company Class A in a research note on Monday, July 17th. They set a “market perform” rating and a $42.00 target price on the stock. Finally, HSBC Holdings plc initiated coverage on shares of Baker Hughes, a GE company Class A in a research note on Thursday, July 13th. They set a “buy” rating and a $48.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.07.

In related news, insider Lorenzo Simonelli purchased 6,100 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $32.99 per share, with a total value of $201,239.00. Following the completion of the purchase, the insider now owns 9,139 shares of the company’s stock, valued at approximately $301,495.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Rice purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $35.37 per share, for a total transaction of $176,850.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $176,850. The disclosure for this purchase can be found here. Insiders bought 13,901 shares of company stock worth $476,796 over the last ninety days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. South Dakota Investment Council acquired a new position in shares of Baker Hughes, a GE company Class A in the second quarter worth $4,610,000. New Mexico Educational Retirement Board acquired a new position in shares of Baker Hughes, a GE company Class A in the second quarter worth $1,461,000. FTB Advisors Inc. acquired a new position in shares of Baker Hughes, a GE company Class A in the second quarter worth $442,000. Tudor Investment Corp ET AL acquired a new position in shares of Baker Hughes, a GE company Class A in the second quarter worth $959,000. Finally, Fairpointe Capital LLC acquired a new position in shares of Baker Hughes, a GE company Class A in the second quarter worth $229,000.

Earnings History and Estimates for Baker Hughes, a GE company Class A (NASDAQ:BHGE)

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