Equities Analysts Offer Predictions for Baker Hughes Inc.’s Q4 2016 Earnings (BHI)
Baker Hughes Inc. (NYSE:BHI) – Analysts at DA Davidson increased their Q4 2016 earnings per share estimates for shares of Baker Hughes in a note issued to investors on Monday. DA Davidson analyst S. Randhawa now forecasts that the firm will post earnings of ($0.10) per share for the quarter, up from their prior forecast of ($0.23). DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Baker Hughes’ Q1 2017 earnings at ($0.06) EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $0.37 EPS and FY2018 earnings at $2.09 EPS.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, October 25th. The oilfield services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.29. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Baker Hughes had a negative net margin of 30.97% and a negative return on equity of 5.07%. The business’s quarterly revenue was down 37.8% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS.
BHI has been the subject of several other research reports. Loop Capital started coverage on shares of Baker Hughes in a report on Friday, September 30th. They issued a “hold” rating and a $52.00 price target for the company. Citigroup Inc. upped their price target on shares of Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Zacks Investment Research upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Friday, October 14th. Evercore ISI reiterated a “hold” rating and issued a $60.00 price target on shares of Baker Hughes in a report on Wednesday, November 2nd. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $59.00 price target (up previously from $50.00) on shares of Baker Hughes in a report on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.76.
Shares of Baker Hughes (NYSE:BHI) opened at 61.23 on Wednesday. The firm’s market capitalization is $26.33 billion. Baker Hughes has a 52-week low of $37.58 and a 52-week high of $62.16. The firm has a 50-day moving average of $54.41 and a 200 day moving average of $48.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, November 7th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Baker Hughes’s dividend payout ratio (DPR) is presently -8.89%.
In other Baker Hughes news, VP Belgacem Chariag sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $58.09, for a total transaction of $871,350.00. Following the completion of the transaction, the vice president now owns 76,768 shares in the company, valued at approximately $4,459,453.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory D. Brenneman purchased 85,000 shares of the stock in a transaction on Monday, November 14th. The shares were purchased at an average price of $58.84 per share, with a total value of $5,001,400.00. Following the acquisition, the director now owns 89,425 shares in the company, valued at approximately $5,261,767. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpha Windward LLC raised its position in Baker Hughes by 17.4% in the second quarter. Alpha Windward LLC now owns 4,646 shares of the oilfield services provider’s stock valued at $210,000 after buying an additional 689 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Baker Hughes by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 376,886 shares of the oilfield services provider’s stock valued at $17,009,000 after buying an additional 6,894 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Baker Hughes by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 113,354 shares of the oilfield services provider’s stock valued at $5,116,000 after buying an additional 6,747 shares during the last quarter. DNB Asset Management AS raised its position in Baker Hughes by 2.1% in the second quarter. DNB Asset Management AS now owns 38,480 shares of the oilfield services provider’s stock valued at $1,737,000 after buying an additional 800 shares during the last quarter. Finally, Edge Wealth Management LLC raised its position in Baker Hughes by 13,395.0% in the second quarter. Edge Wealth Management LLC now owns 78,271 shares of the oilfield services provider’s stock valued at $3,537,000 after buying an additional 77,691 shares during the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
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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