Baker Hughes (NASDAQ:BKR) Issues Earnings Results

by · The Cerbat Gem

Baker Hughes (NASDAQ:BKR – Get Free Report) posted its earnings results on Monday. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11, Briefing.com reports. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the prior year, the company earned $0.70 EPS. Baker Hughes’s revenue was up .3% on a year-over-year basis.

Baker Hughes Stock Performance

Shares of BKR stock opened at $53.95 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The firm has a market capitalization of $53.23 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. Baker Hughes has a one year low of $33.60 and a one year high of $55.31. The company has a 50 day moving average price of $48.46 and a 200 day moving average price of $46.61.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Susquehanna lifted their price target on shares of Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. Jefferies Financial Group boosted their price objective on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Barclays raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group lifted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Twenty-one analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

View Our Latest Stock Report on Baker Hughes

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SIH Partners LLLP acquired a new stake in shares of Baker Hughes in the third quarter valued at about $581,000. Camelot Portfolios LLC lifted its position in Baker Hughes by 11.8% during the 3rd quarter. Camelot Portfolios LLC now owns 9,134 shares of the company’s stock worth $445,000 after acquiring an additional 964 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Baker Hughes by 3.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 10,831 shares of the company’s stock worth $415,000 after acquiring an additional 365 shares during the period. Voleon Capital Management LP grew its position in Baker Hughes by 10.4% in the third quarter. Voleon Capital Management LP now owns 8,420 shares of the company’s stock valued at $410,000 after acquiring an additional 790 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Baker Hughes by 73.5% during the second quarter. Great Valley Advisor Group Inc. now owns 9,865 shares of the company’s stock valued at $378,000 after purchasing an additional 4,180 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Company Profile

(Get Free Report)

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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