Brokerages forecast that Baker Hughes A GE Co (NYSE:BHGE) will post earnings of $0.27 per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Baker Hughes A GE’s earnings, with estimates ranging from $0.24 to $0.34. Baker Hughes A GE reported earnings of $0.15 per share during the same quarter last year, which suggests a positive year over year growth rate of 80%. The business is expected to report its next quarterly earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that Baker Hughes A GE will report full year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.58 to $0.68. For the next fiscal year, analysts forecast that the firm will post earnings of $1.32 per share, with EPS estimates ranging from $1.10 to $1.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Baker Hughes A GE.
Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis.
Several analysts have weighed in on BHGE shares. B. Riley reiterated a “buy” rating on shares of Baker Hughes A GE in a research note on Monday, September 10th. Bank of America started coverage on shares of Baker Hughes A GE in a research note on Wednesday, October 17th. They set a “buy” rating for the company. Guggenheim upgraded shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Wednesday, October 31st. Wells Fargo & Co lowered their target price on shares of Baker Hughes A GE from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Finally, Barclays reiterated a “buy” rating and set a $35.00 target price on shares of Baker Hughes A GE in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. Baker Hughes A GE currently has an average rating of “Buy” and an average target price of $36.79.
BHGE stock opened at $25.51 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.35. Baker Hughes A GE has a 1-year low of $25.35 and a 1-year high of $37.76. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 5.25 and a beta of 0.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.82%. Baker Hughes A GE’s dividend payout ratio is currently 138.46%.
Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in Baker Hughes A GE by 5.5% in the 2nd quarter. Morgan Stanley now owns 1,303,794 shares of the company’s stock valued at $43,065,000 after buying an additional 67,934 shares in the last quarter. Bank of Nova Scotia grew its position in Baker Hughes A GE by 125.5% in the 2nd quarter. Bank of Nova Scotia now owns 121,807 shares of the company’s stock valued at $4,024,000 after buying an additional 67,779 shares in the last quarter. Strs Ohio grew its position in Baker Hughes A GE by 18.4% in the 2nd quarter. Strs Ohio now owns 1,231,702 shares of the company’s stock valued at $40,683,000 after buying an additional 191,275 shares in the last quarter. Bank of New York Mellon Corp grew its position in Baker Hughes A GE by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock valued at $135,150,000 after buying an additional 65,666 shares in the last quarter. Finally, Indus Capital Partners LLC bought a new position in Baker Hughes A GE in the 2nd quarter valued at about $28,695,000. Institutional investors and hedge funds own 93.88% of the company’s stock.
About Baker Hughes A GE
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.
Read More: What is a Fiduciary?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Baker Hughes A GE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes A GE and related companies with MarketBeat.com's FREE daily email newsletter.