Baker Hughes (NASDAQ:BKR) Announces Earnings Results

Baker Hughes (NASDAQ:BKR) released its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08, RTT News reports. Baker Hughes had a return on equity of 12.49% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year.

Baker Hughes Price Performance

BKR stock traded up $2.07 during mid-day trading on Friday, reaching $37.65. The company’s stock had a trading volume of 10,250,156 shares, compared to its average volume of 5,054,799. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $33.64 and its two-hundred day moving average is $32.23. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.78. The stock has a market cap of $37.57 billion, a PE ratio of 21.03, a P/E/G ratio of 0.61 and a beta of 1.41.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Baker Hughes’s payout ratio is presently 46.93%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BKR. Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Bank of America lowered their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. UBS Group boosted their price objective on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.92.

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.