Baker Hughes Company (NYSE:BKR) – Investment analysts at Piper Jaffray Companies lowered their FY2019 EPS estimates for Baker Hughes in a research note issued on Thursday, December 19th. Piper Jaffray Companies analyst B. Herbert now forecasts that the company will post earnings per share of $0.86 for the year, down from their prior forecast of $0.88. Piper Jaffray Companies also issued estimates for Baker Hughes’ Q4 2019 earnings at $0.30 EPS.
A number of other equities research analysts have also recently weighed in on BKR. ValuEngine cut Baker Hughes from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Susquehanna Bancshares raised Baker Hughes from a “neutral” rating to a “positive” rating in a report on Friday, November 15th. Stephens started coverage on Baker Hughes in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $28.00 target price on the stock. Deutsche Bank started coverage on Baker Hughes in a research report on Wednesday, November 27th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Zacks Investment Research downgraded Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Baker Hughes presently has a consensus rating of “Hold” and a consensus target price of $30.50.
Shares of NYSE:BKR opened at $25.48 on Monday. The company has a 50 day moving average price of $22.87. Baker Hughes has a 52 week low of $20.09 and a 52 week high of $28.65. The firm has a market capitalization of $25.77 billion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 3.56 and a beta of 0.98. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.
Baker Hughes (NYSE:BKR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $6.11 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of BKR. State Street Corp acquired a new position in shares of Baker Hughes during the third quarter valued at approximately $687,949,000. Point72 Asset Management L.P. acquired a new stake in Baker Hughes in the third quarter worth approximately $70,939,000. Millennium Management LLC acquired a new stake in Baker Hughes in the third quarter worth approximately $68,379,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Baker Hughes during the 3rd quarter valued at $64,560,000. Finally, Parametric Portfolio Associates LLC bought a new position in Baker Hughes during the 3rd quarter valued at $46,880,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
In other Baker Hughes news, insider William D. Marsh sold 5,857 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.65, for a total transaction of $132,661.05. Following the sale, the insider now directly owns 33,647 shares in the company, valued at approximately $762,104.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William D. Marsh sold 6,136 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.15, for a total transaction of $135,912.40. Following the sale, the insider now owns 39,504 shares in the company, valued at $875,013.60. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
About Baker Hughes
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.