Baker Hughes (NASDAQ:BKR) Releases Earnings Results, Beats Expectations By $0.06 EPS

Baker Hughes (NASDAQ:BKR) issued its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06, Briefing.com reports. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS.

Baker Hughes Stock Down 1.5 %

BKR opened at $35.45 on Wednesday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The business has a 50 day moving average price of $35.57 and a two-hundred day moving average price of $34.33. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $35.38 billion, a PE ratio of 20.10, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.37%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. The Goldman Sachs Group raised their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.59.

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.