Baker Hughes (NASDAQ:BKR) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Baker Hughes (NASDAQ:BKR) announced its quarterly earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year.

Baker Hughes Stock Performance

NASDAQ BKR opened at $37.65 on Friday. The stock has a market capitalization of $37.57 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.61 and a beta of 1.41. The business’s 50 day moving average is $33.64 and its two-hundred day moving average is $32.23. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.78. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be given a $0.21 dividend. 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 currently 46.93%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. UBS Group raised their price target on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Finally, Bank of America reduced their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $40.92.

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.