Baker Hughes (NASDAQ:BKR) Issues Earnings Results

Baker Hughes (NASDAQ:BKR) issued its earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06, Briefing.com reports. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.52 during trading on Wednesday, reaching $36.50. 713,046 shares of the company’s stock traded hands, compared to its average volume of 7,180,294. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a 50 day moving average of $35.57 and a 200-day moving average of $34.33. The stock has a market capitalization of $36.43 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BKR shares. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Friday, July 26th. Susquehanna raised their price objective on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target 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. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.59.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now directly owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.