FY2024 EPS Estimates for Baker Hughes Raised by Analyst

Baker Hughes (NASDAQ:BKR - Free Report) - Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of Baker Hughes in a report issued on Monday, November 4th. Capital One Financial analyst D. Becker now expects that the company will post earnings of $2.30 per share for the year, up from their previous estimate of $2.26. The consensus estimate for Baker Hughes' current full-year earnings is $2.28 per share. Capital One Financial also issued estimates for Baker Hughes' Q1 2025 earnings at $0.52 EPS.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS.

BKR has been the subject of several other research reports. Benchmark reissued a "buy" rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, July 29th. Evercore ISI upped their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.12.

Baker Hughes Trading Up 10.8 %

Shares of BKR stock traded up $4.16 on Wednesday, hitting $42.74. 13,753,998 shares of the stock traded hands, compared to its average volume of 7,242,179. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $43.23. The firm's 50-day moving average price is $36.26 and its two-hundred day moving average price is $34.70. The stock has a market capitalization of $42.29 billion, a PE ratio of 19.17, a PEG ratio of 0.64 and a beta of 1.38.

Institutional Trading of Baker Hughes

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter worth $30,000. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the first quarter worth about $34,000. Alta Advisers Ltd purchased a new position in Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the second quarter valued at about $48,000. Finally, Quarry LP boosted its holdings in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.97%. Baker Hughes's dividend payout ratio is presently 37.67%.

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.