Baker Hughes (NASDAQ:BKR) Announces Earnings Results, Beats Expectations By $0.03 EPS

Baker Hughes (NASDAQ:BKR) released its quarterly earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share.

Baker Hughes Trading Down 1.0 %

NASDAQ BKR opened at $32.67 on Thursday. The company’s 50-day moving average price is $31.89 and its 200-day moving average price is $32.55. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The stock has a market cap of $32.70 billion, a PE ratio of 17.10, a PEG ratio of 0.61 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a $0.21 dividend. 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 presently 43.98%.

Insider Transactions at Baker Hughes

In other news, 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 value of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the 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 transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

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.