Baker Hughes (NASDAQ:BKR) Stock Rating Lowered by Atb Cap Markets

Atb Cap Markets downgraded shares of Baker Hughes (NASDAQ:BKR - Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports. Atb Cap Markets also issued estimates for Baker Hughes' FY2027 earnings at $2.91 EPS.

Several other research firms have also recently commented on BKR. BMO Capital Markets increased their price target on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Argus upgraded Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.12.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.02 during trading hours on Tuesday, reaching $42.48. 2,665,136 shares of the company's stock were exchanged, compared to its average volume of 7,131,216. The business has a fifty day moving average of $40.37 and a two-hundred day moving average of $36.56. The company has a market capitalization of $42.04 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 0.70 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. Baker Hughes's dividend payout ratio is currently 37.67%.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after acquiring an additional 829 shares in the last quarter. Groupama Asset Managment boosted its holdings in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC grew its stake in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Finally, Alta Advisers Ltd purchased a new stake in Baker Hughes during the 2nd quarter worth about $42,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.