Baker Hughes, a GE company Class A (BHGE) PT Lowered to $35.00

Baker Hughes, a GE company Class A (NYSE:BHGE) had its price target cut by Citigroup from $40.00 to $35.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 34.46% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Baker Hughes, a GE company Class A from a “strong sell” rating to a “hold” rating in a research report on Monday, November 13th. Scotiabank set a $44.00 price objective on shares of Baker Hughes, a GE company Class A and gave the company a “hold” rating in a research report on Saturday, October 21st. Cowen set a $55.00 price objective on shares of Baker Hughes, a GE company Class A and gave the company a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada set a $35.00 price objective on shares of Baker Hughes, a GE company Class A and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Barclays set a $41.00 price objective on shares of Baker Hughes, a GE company Class A and gave the company a “buy” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.98.

Shares of Baker Hughes, a GE company Class A (NYSE:BHGE) traded down $0.82 during trading on Tuesday, hitting $26.03. 1,794,025 shares of the company were exchanged, compared to its average volume of 5,519,119. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The firm has a market cap of $11,346.67, a PE ratio of -25.43, a P/E/G ratio of 4.47 and a beta of 0.68. Baker Hughes, a GE company Class A has a 1-year low of $25.68 and a 1-year high of $62.24.

Baker Hughes, a GE company Class A (NYSE:BHGE) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $5.76 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Baker Hughes, a GE company Class A had a negative net margin of 2.79% and a positive return on equity of 0.10%. The business’s revenue was down 2.7% compared to the same quarter last year. equities analysts predict that Baker Hughes, a GE company Class A will post 0.85 EPS for the current year.

In other news, insider William D. Marsh sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the insider now owns 25,190 shares of the company’s stock, valued at approximately $881,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. ValueAct Holdings L.P. bought a new position in shares of Baker Hughes, a GE company Class A in the 3rd quarter valued at about $1,150,154,000. BlackRock Inc. boosted its stake in Baker Hughes, a GE company Class A by 5.5% during the 4th quarter. BlackRock Inc. now owns 30,916,382 shares of the company’s stock worth $978,192,000 after acquiring an additional 1,618,832 shares during the last quarter. American Century Companies Inc. boosted its stake in Baker Hughes, a GE company Class A by 29.7% during the 4th quarter. American Century Companies Inc. now owns 7,762,412 shares of the company’s stock worth $245,603,000 after acquiring an additional 1,777,693 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Baker Hughes, a GE company Class A by 19.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,132,870 shares of the company’s stock worth $130,762,000 after acquiring an additional 671,600 shares during the last quarter. Finally, TCW Group Inc. bought a new position in Baker Hughes, a GE company Class A during the 3rd quarter worth approximately $139,949,000. 89.98% of the stock is currently owned by institutional investors.

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About Baker Hughes, a GE company Class A

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. The company offers upstream services, including evaluation, drilling, production, and completion; midstream services comprising equipment and services for LNG, and pipeline and storage; and chemical, mechanical, digital, and service solutions for refinery and petrochemical operations.

Analyst Recommendations for Baker Hughes, a GE company Class A (NYSE:BHGE)

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