Baker Hughes (NYSE:BKR) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Baker Hughes (NYSE:BKR) from a hold rating to a strong sell rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Baker Hughes, a GE Company is a provider of integrated oilfield products, services and digital solutions. Baker Hughes a GE Company, formerly known as Baker Hughes, is based in Houston, United States. “

Several other brokerages have also issued reports on BKR. Barclays reaffirmed a buy rating and set a $28.00 price target on shares of Baker Hughes in a research note on Friday, November 1st. TheStreet lowered Baker Hughes from a c- rating to a d rating in a research note on Monday, October 21st.

NYSE:BKR traded up $0.17 during trading hours on Friday, hitting $22.25. 2,890,075 shares of the company’s stock traded hands, compared to its average volume of 5,267,808. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 3.07 and a beta of 0.98. Baker Hughes has a 52 week low of $20.09 and a 52 week high of $28.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.58.

Baker Hughes (NYSE:BKR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Baker Hughes had a return on equity of 1.19% and a net margin of 0.89%. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $6.11 billion. During the same period last year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 0.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 7th. Baker Hughes’s dividend payout ratio (DPR) is currently 109.09%.

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC bought a new stake in Baker Hughes during the third quarter worth about $32,000. Advisory Services Network LLC bought a new stake in Baker Hughes during the third quarter worth about $40,000. Huntington National Bank purchased a new position in shares of Baker Hughes in the third quarter worth about $109,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Baker Hughes in the third quarter worth about $132,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Baker Hughes in the third quarter worth about $165,000. 48.40% of the stock is owned by hedge funds and other institutional investors.

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.

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