Brokers Offer Predictions for Baker Hughes’ Q3 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Baker Hughes in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.58. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Baker Hughes’ FY2024 earnings at $2.08 EPS and Q4 2025 earnings at $0.66 EPS.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis.

Several other research firms have also recently issued reports on BKR. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Barclays reduced their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. TD Cowen lifted their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.87.

Baker Hughes Price Performance

BKR stock opened at $32.10 on Tuesday. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The stock’s fifty day simple moving average is $31.49 and its 200-day simple moving average is $32.60. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $32.13 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Baker Hughes by 0.5% in the first quarter. State Street Corp now owns 67,473,141 shares of the company’s stock valued at $1,947,274,000 after buying an additional 365,013 shares during the last quarter. Geode Capital Management LLC increased its holdings in Baker Hughes by 2.4% in the first quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company’s stock valued at $615,984,000 after buying an additional 495,677 shares during the last quarter. Norges Bank bought a new stake in Baker Hughes in the fourth quarter valued at about $551,555,000. FMR LLC increased its holdings in Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after buying an additional 2,316,638 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Baker Hughes by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,157,022 shares of the company’s stock valued at $449,709,000 after buying an additional 383,995 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s payout ratio is currently 43.98%.

Baker Hughes Company Profile

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.