Jefferies Group Comments on BHP Billiton PLC’s FY2018 Earnings (BBL)
BHP Billiton PLC (NYSE:BBL) – Equities researchers at Jefferies Group raised their FY2018 earnings per share estimates for shares of BHP Billiton in a research report issued on Monday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings of $2.82 per share for the year, up from their prior estimate of $2.81. Jefferies Group currently has a “Hold” rating and a $38.00 price target on the stock. Jefferies Group also issued estimates for BHP Billiton’s FY2019 earnings at $2.74 EPS and FY2020 earnings at $3.02 EPS.
BBL has been the subject of several other reports. Zacks Investment Research upgraded BHP Billiton from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Thursday, October 12th. BidaskClub upgraded BHP Billiton from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, ValuEngine downgraded BHP Billiton from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.00.
Several institutional investors and hedge funds have recently modified their holdings of BBL. Public Employees Retirement System of Ohio bought a new stake in shares of BHP Billiton during the 3rd quarter valued at $8,956,000. Griffin Asset Management Inc. bought a new stake in shares of BHP Billiton during the 3rd quarter valued at $383,000. Group One Trading L.P. boosted its holdings in shares of BHP Billiton by 668.8% during the 3rd quarter. Group One Trading L.P. now owns 3,075 shares of the mining company’s stock valued at $109,000 after buying an additional 2,675 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of BHP Billiton during the 3rd quarter valued at $382,000. Finally, Boothbay Fund Management LLC boosted its holdings in shares of BHP Billiton by 314.5% during the 3rd quarter. Boothbay Fund Management LLC now owns 33,159 shares of the mining company’s stock valued at $1,175,000 after buying an additional 25,159 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.
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About BHP Billiton
BHP Billiton Plc is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas.
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