$5.59 Billion in Sales Expected for Baker Hughes Incorporated (BHGE) This Quarter
Equities analysts predict that Baker Hughes Incorporated (NYSE:BHGE) will announce $5.59 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Baker Hughes’ earnings, with estimates ranging from $5.20 billion to $5.89 billion. Baker Hughes posted sales of $2.41 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 132%. The firm is expected to report its next quarterly earnings report on Thursday, January 25th.
On average, analysts expect that Baker Hughes will report full year sales of $5.59 billion for the current financial year, with estimates ranging from $15.60 billion to $21.87 billion. For the next year, analysts expect that the business will report sales of $22.74 billion per share, with estimates ranging from $21.42 billion to $24.80 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Baker Hughes.
Baker Hughes (NYSE:BHGE) last announced its quarterly earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). Baker Hughes had a negative return on equity of 0.84% and a negative net margin of 6.66%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.52 billion. The firm’s revenue was up 77.7% on a year-over-year basis.
In other news, insider Matthias L. Heilmann bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average price of $30.04 per share, with a total value of $45,060.00. Following the completion of the transaction, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $105,140. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Stonebridge Capital Management Inc. acquired a new position in Baker Hughes during the 3rd quarter valued at approximately $594,000. South Dakota Investment Council acquired a new position in Baker Hughes during the 2nd quarter valued at approximately $4,610,000. Edge Wealth Management LLC acquired a new position in Baker Hughes during the 3rd quarter valued at approximately $378,000. Osborn Williams & Donohoe LLC acquired a new position in Baker Hughes during the 3rd quarter valued at approximately $514,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Baker Hughes during the 3rd quarter valued at approximately $2,790,000. Institutional investors and hedge funds own 89.48% of the company’s stock.
Shares of Baker Hughes (NYSE BHGE) traded up $0.26 on Thursday, hitting $30.59. 7,625,301 shares of the stock traded hands, compared to its average volume of 3,213,893. Baker Hughes has a 52-week low of $29.62 and a 52-week high of $66.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were given a dividend of $0.18 per share. This is a boost from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. Baker Hughes’s dividend payout ratio is presently -111.34%.
ILLEGAL ACTIVITY WARNING: “$5.59 Billion in Sales Expected for Baker Hughes Incorporated (BHGE) This Quarter” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/14/5-59-billion-in-sales-expected-for-baker-hughes-incorporated-bhge-this-quarter.html.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.