Baker Hughes (NASDAQ:BKR) Posts Earnings Results, Beats Expectations By $0.03 EPS

Baker Hughes (NASDAQ:BKR - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03, Zacks reports. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.56 during trading hours on Tuesday, hitting $38.36. 9,975,778 shares of the company's stock traded hands, compared to its average volume of 6,887,920. The company's fifty day simple moving average is $42.16 and its two-hundred day simple moving average is $42.13. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.40%. Baker Hughes's payout ratio is 30.87%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BKR has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Baker Hughes from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group upped their target price on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. TD Cowen lowered their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $50.65.

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.

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