Zacks Research Lowers Earnings Estimates for Baker Hughes

Baker Hughes Company (NASDAQ:BKR) – Stock analysts at Zacks Research decreased their FY2027 EPS estimates for Baker Hughes in a research report issued to clients and investors on Wednesday, December 3rd. Zacks Research analyst Team now anticipates that the company will earn $2.93 per share for the year, down from their previous forecast of $2.94. The consensus estimate for Baker Hughes’ current full-year earnings is $2.59 per share.

BKR has been the topic of several other reports. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Melius began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Citigroup decreased their price target on Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Finally, Cowen reaffirmed a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.42.

Baker Hughes Trading Down 2.8%

Shares of BKR stock opened at $49.20 on Monday. The business’s fifty day moving average price is $48.03 and its 200 day moving average price is $44.18. The firm has a market capitalization of $48.55 billion, a PE ratio of 16.97, a P/E/G ratio of 1.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $51.12.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Baker Hughes by 0.3% in the 3rd quarter. Allworth Financial LP now owns 206,748 shares of the company’s stock worth $10,073,000 after purchasing an additional 568 shares during the period. Swiss Life Asset Management Ltd grew its stake in Baker Hughes by 109.1% during the third quarter. Swiss Life Asset Management Ltd now owns 308,610 shares of the company’s stock worth $15,035,000 after buying an additional 161,047 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Baker Hughes in the third quarter worth $8,394,000. WBI Investments LLC purchased a new position in shares of Baker Hughes in the 3rd quarter valued at $1,059,000. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Baker Hughes by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,183 shares of the company’s stock valued at $642,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.