Baker Hughes Inc. (BHI) to Post Q3 2017 Earnings of $0.09 Per Share, Seaport Global Securities Forecasts
Baker Hughes Inc. (NYSE:BHI) – Stock analysts at Seaport Global Securities boosted their Q3 2017 EPS estimates for shares of Baker Hughes in a report released on Wednesday. Seaport Global Securities analyst K. Sill now anticipates that the firm will post earnings of $0.09 per share for the quarter, up from their previous estimate of $0.08. Seaport Global Securities also issued estimates for Baker Hughes’ Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.59 EPS.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The business earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue for the quarter was down 39.3% compared to the same quarter last year.
Several other analysts have also issued reports on the company. Zacks Investment Research raised Baker Hughes from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Friday. Citigroup Inc. increased their price objective on Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. RBC Capital Markets reissued an “outperform” rating and set a $59.00 price objective (up previously from $50.00) on shares of Baker Hughes in a research note on Monday, October 10th. Royal Bank Of Canada increased their price objective on Baker Hughes from $50.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, October 10th. Finally, Loop Capital assumed coverage on Baker Hughes in a research note on Friday, September 30th. They set a “hold” rating and a $52.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Baker Hughes presently has a consensus rating of “Buy” and a consensus price target of $53.42.
Baker Hughes (NYSE:BHI) traded down 1.43% during mid-day trading on Thursday, reaching $51.75. 3,532,873 shares of the company traded hands. Baker Hughes has a 12-month low of $37.58 and a 12-month high of $56.17. The stock’s market capitalization is $22.14 billion. The company’s 50-day moving average is $50.21 and its 200-day moving average is $47.01.
Several hedge funds and other institutional investors have recently bought and sold shares of BHI. Winslow Asset Management Inc. increased its position in Baker Hughes by 0.5% in the second quarter. Winslow Asset Management Inc. now owns 5,025 shares of the oilfield services provider’s stock valued at $227,000 after buying an additional 25 shares during the period. Synovus Financial Corp increased its position in Baker Hughes by 1.2% in the second quarter. Synovus Financial Corp now owns 4,745 shares of the oilfield services provider’s stock valued at $216,000 after buying an additional 55 shares during the period. Nippon Life Insurance Co. increased its position in Baker Hughes by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 26,117 shares of the oilfield services provider’s stock valued at $1,179,000 after buying an additional 101 shares during the period. Conning Inc. increased its position in Baker Hughes by 1.2% in the second quarter. Conning Inc. now owns 10,540 shares of the oilfield services provider’s stock valued at $476,000 after buying an additional 120 shares during the period. Finally, Security National Bank of SO Dak increased its position in Baker Hughes by 1.0% in the second quarter. Security National Bank of SO Dak now owns 12,304 shares of the oilfield services provider’s stock valued at $556,000 after buying an additional 120 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Alan R. Crain, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $47.01, for a total value of $329,070.00. Following the transaction, the senior vice president now owns 51,385 shares of the company’s stock, valued at $2,415,608.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alan J. Keifer sold 17,434 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $52.70, for a total value of $918,771.80. Following the completion of the transaction, the vice president now directly owns 41,374 shares in the company, valued at approximately $2,180,409.80. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
Baker Hughes Company Profile
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.
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