Brokerages expect Baker Hughes A GE Co (NYSE:BHGE) to announce $5.90 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Baker Hughes A GE’s earnings. The lowest sales estimate is $5.67 billion and the highest is $6.03 billion. Baker Hughes A GE reported sales of $5.38 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.7%. The business is expected to report its next earnings results on Friday, October 19th.
On average, analysts expect that Baker Hughes A GE will report full-year sales of $23.09 billion for the current financial year, with estimates ranging from $22.51 billion to $23.66 billion. For the next year, analysts forecast that the company will post sales of $25.11 billion per share, with estimates ranging from $23.52 billion to $26.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Baker Hughes A GE.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.57 billion. Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS.
BHGE has been the subject of a number of recent research reports. Seaport Global Securities reiterated a “hold” rating and set a $32.00 price target on shares of Baker Hughes A GE in a research note on Monday, July 23rd. Zacks Investment Research cut shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. Wells Fargo & Co increased their price target on shares of Baker Hughes A GE from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Finally, Stifel Nicolaus initiated coverage on shares of Baker Hughes A GE in a research note on Monday. They set a “buy” rating and a $40.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.43.
Shares of NYSE:BHGE opened at $32.28 on Friday. The firm has a market cap of $13.42 billion, a P/E ratio of 61.79, a price-to-earnings-growth ratio of 5.61 and a beta of 0.72. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.17. Baker Hughes A GE has a 1-year low of $25.53 and a 1-year high of $38.10.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Tuesday, August 14th were issued a $0.18 dividend. The ex-dividend date was Monday, August 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.23%. Baker Hughes A GE’s dividend payout ratio is presently 138.46%.
In other news, insider Matthias L. Heilmann sold 12,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $408,000.00. Following the completion of the transaction, the insider now owns 3,743 shares in the company, valued at approximately $127,262. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt Camilleri sold 2,513 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BHGE. Schroder Investment Management Group purchased a new position in Baker Hughes A GE during the 2nd quarter valued at about $125,000. Rational Advisors LLC acquired a new stake in shares of Baker Hughes A GE in the first quarter worth approximately $139,000. Indiana Trust & Investment Management CO acquired a new position in Baker Hughes A GE during the second quarter valued at approximately $205,000. Rathbone Brothers plc acquired a new position in Baker Hughes A GE during the second quarter valued at approximately $210,000. Finally, Kanawha Capital Management LLC acquired a new position in Baker Hughes A GE during the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 93.88% of the company’s stock.
Baker Hughes A GE Company Profile
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.
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