TD Cowen Lowers Baker Hughes (NASDAQ:BKR) Price Target to $51.00

Baker Hughes (NASDAQ:BKR) had its price target dropped by stock analysts at TD Cowen from $53.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 17.76% from the company’s previous close.

A number of other brokerages have also recently weighed in on BKR. Bank of America lifted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group dropped their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $47.18.

Baker Hughes Trading Down 0.2 %

Shares of BKR traded down $0.09 during mid-day trading on Wednesday, reaching $43.31. The company had a trading volume of 2,231,360 shares, compared to its average volume of 5,111,141. The firm has a fifty day simple moving average of $41.94 and a 200-day simple moving average of $37.81. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Yaupon Capital Management LP acquired a new stake in Baker Hughes in the third quarter worth $47,296,000. Eagle Asset Management Inc. boosted its position in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Baker Hughes by 436.0% in 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 buying an additional 817,227 shares during the period. Finally, Groupama Asset Managment increased its position in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares in the last quarter. 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.