FY2024 EPS Estimates for Baker Hughes Increased by Analyst

Baker Hughes (NASDAQ:BKR) – Zacks Research raised their FY2024 earnings estimates for Baker Hughes in a report released on Tuesday, November 12th. Zacks Research analyst R. Department now expects that the company will earn $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.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm 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%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share.

Several other equities analysts have also recently issued reports on BKR. The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays upped their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus upped their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $43.07 on Thursday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $44.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company’s 50-day moving average is $36.94 and its 200 day moving average is $35.01. The stock has a market capitalization of $42.62 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.74 and a beta of 1.38.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.95%. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BKR. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Baker Hughes by 436.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Baker Hughes by 63.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock valued at $72,368,000 after purchasing an additional 780,417 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Baker Hughes during the 3rd quarter valued at about $27,914,000. Institutional investors own 92.06% 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.