Baker Hughes (NASDAQ:BKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have been given an average rating of “Moderate Buy” by the twenty analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $46.47.

BKR has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barclays increased their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th.

Baker Hughes Stock Down 3.3 %

Shares of NASDAQ BKR opened at $40.04 on Thursday. The business’s fifty day moving average price is $40.76 and its 200-day moving average price is $36.87. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The stock has a market capitalization of $39.62 billion, a PE ratio of 17.96, a P/E/G ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.10%. Baker Hughes’s payout ratio is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Birmingham Capital Management Co. Inc. AL boosted its holdings in Baker Hughes by 18.5% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after acquiring an additional 2,500 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Baker Hughes in the 3rd quarter worth $139,000. Sanctuary Advisors LLC increased its position in shares of Baker Hughes by 92.0% in the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock valued at $3,180,000 after acquiring an additional 42,148 shares during the period. Hohimer Wealth Management LLC raised its stake in shares of Baker Hughes by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock valued at $1,169,000 after acquiring an additional 1,053 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Baker Hughes by 69.7% during the third quarter. Toronto Dominion Bank now owns 527,501 shares of the company’s stock worth $19,069,000 after purchasing an additional 216,613 shares during the period. Institutional investors own 92.06% of the company’s stock.

About Baker Hughes

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.