Jefferies Group Equities Analysts Raise Earnings Estimates for BHP Billiton PLC (BBL)
BHP Billiton PLC (NYSE:BBL) – Analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of BHP Billiton in a note issued to investors on Monday. Jefferies Group analyst C. Lafemina now anticipates that the mining company will post earnings per share of $2.82 for the year, up from their prior estimate of $2.81. Jefferies Group currently has a “Hold” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for BHP Billiton’s FY2019 earnings at $2.74 EPS and FY2020 earnings at $3.02 EPS.
BBL has been the topic of several other research reports. Zacks Investment Research upgraded shares of BHP Billiton from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 12th. BidaskClub upgraded shares of BHP Billiton from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, ValuEngine lowered shares of BHP Billiton from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. BHP Billiton currently has an average rating of “Buy” and a consensus price target of $40.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of BHP Billiton in the 3rd quarter worth approximately $8,956,000. Griffin Asset Management Inc. acquired a new stake in shares of BHP Billiton in the 3rd quarter worth approximately $383,000. Group One Trading L.P. lifted its stake in shares of BHP Billiton by 668.8% in the 3rd quarter. Group One Trading L.P. now owns 3,075 shares of the mining company’s stock worth $109,000 after acquiring an additional 2,675 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of BHP Billiton in the 3rd quarter worth approximately $382,000. Finally, Boothbay Fund Management LLC lifted its stake in shares of BHP Billiton by 314.5% in the 3rd quarter. Boothbay Fund Management LLC now owns 33,159 shares of the mining company’s stock worth $1,175,000 after acquiring an additional 25,159 shares during the period. 4.39% of the stock is currently owned by hedge funds and other institutional investors.
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About BHP Billiton
BHP Billiton Plc is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas.
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