Baker Hughes (NASDAQ:BKR) Posts Earnings Results, Beats Expectations By $0.08 EPS

Baker Hughes (NASDAQ:BKR) issued its quarterly earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08, RTT News reports. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis.

Baker Hughes Trading Up 5.8 %

Baker Hughes stock opened at $37.65 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.78. The stock has a market cap of $37.57 billion, a P/E ratio of 21.03, a PEG ratio of 0.65 and a beta of 1.41. The firm’s fifty day moving average price is $33.64 and its 200-day moving average price is $32.24.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. The Goldman Sachs Group raised their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Friday. UBS Group lifted their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.92.

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.