Baker Hughes FY2024 EPS Estimate Increased by Zacks Research

Baker Hughes (NASDAQ:BKR - Free Report) - Investment analysts at Zacks Research increased their FY2024 earnings estimates for shares of Baker Hughes in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst R. Department now expects that the company will post earnings of $2.29 per share for the year, up from their previous estimate of $2.22. The consensus estimate for Baker Hughes' current full-year earnings is $2.29 per share. Zacks Research also issued estimates for Baker Hughes' Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.67 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

Several other analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on Baker Hughes from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, July 29th. Citigroup increased their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $43.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Wells Fargo & Company upgraded shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.59.

Baker Hughes Stock Performance

Baker Hughes stock traded down $0.15 during mid-day trading on Thursday, reaching $42.92. 3,174,326 shares of the company were exchanged, compared to its average volume of 7,235,162. The firm has a market cap of $42.47 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49. The firm's 50-day simple moving average is $37.12 and its two-hundred day simple moving average is $35.07. 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the business posted $0.42 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. Baker Hughes's dividend payout ratio is 37.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Twin Tree Management LP lifted its position in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company's stock worth $11,348,000 after buying an additional 219,060 shares during the period. National Pension Service grew its stake in Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company's stock valued at $49,271,000 after acquiring an additional 81,625 shares during the period. Hixon Zuercher LLC bought a new stake in shares of Baker Hughes in the third quarter worth about $1,980,000. Wedge Capital Management L L P NC raised its holdings in Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company's stock worth $25,544,000 after buying an additional 123,689 shares during the period. Finally, National Bank of Canada FI boosted its stake in Baker Hughes by 4.7% in the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company's stock worth $28,129,000 after purchasing an additional 39,031 shares during the period. Institutional investors own 92.06% of the company's stock.

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.