Baker Hughes (NASDAQ:BKR) Announces Quarterly Earnings Results

Baker Hughes (NASDAQ:BKR) announced its quarterly earnings data on Tuesday. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03, RTT News reports. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year.

Baker Hughes Price Performance

Baker Hughes stock opened at $32.67 on Thursday. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.62 and a beta of 1.42. The company has a fifty day simple moving average of $31.89 and a 200-day simple moving average of $32.55. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

Analyst Ratings Changes

Several brokerages have commented on BKR. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday. Barclays decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.94.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.