Baker Hughes (NASDAQ:BKR – Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06, Briefing.com reports. 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 7.37% and a return on equity of 12.45%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share.
Baker Hughes Stock Up 2.8 %
NASDAQ:BKR opened at $37.00 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm has a market cap of $36.93 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The firm has a 50-day simple moving average of $35.61 and a two-hundred day simple moving average of $34.35.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 46.93%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on BKR. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Citigroup reduced their price target on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI increased their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note 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, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $43.59.
Get Our Latest Report on Baker Hughes
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.
See Also
- Five stocks we like better than Baker Hughes
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Goldman’s Lost Decade Forecast: These 3 Growth Stocks Can Win
- The Role Economic Reports Play in a Successful Investment Strategy
- WD-40 Company Gears Up for a Double-Digit Stock Advance
- The Most Important Warren Buffett Stock for Investors: His Own
- Monster and Celsius Energized: Which Stock Offers More Upside?
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.