Baker Hughes (NASDAQ:BKR) Posts Earnings Results, Beats Estimates By $0.06 EPS

Baker Hughes (NASDAQ:BKR) posted its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06, Briefing.com reports. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s quarterly 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 earnings per share.

Baker Hughes Stock Down 0.6 %

BKR stock opened at $36.78 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The stock has a market cap of $36.71 billion, a P/E ratio of 20.55, a PEG ratio of 0.61 and a beta of 1.38. The business’s 50-day moving average price is $35.61 and its 200-day moving average price is $34.35.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.28%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. 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 note on Monday, July 29th. TD Cowen raised their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. UBS Group dropped their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley raised their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.