Seaport Res Ptn Weighs in on Baker Hughes’ Q2 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Analysts at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for shares of Baker Hughes in a report issued on Sunday, April 28th. Seaport Res Ptn analyst T. Curran now expects that the company will post earnings of $0.48 per share for the quarter, up from their prior forecast of $0.46. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share. Seaport Res Ptn also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $2.66 EPS.

BKR has been the topic of several other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Barclays lowered their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Price Performance

Baker Hughes stock opened at $33.22 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The stock has a market cap of $33.25 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The firm has a 50-day moving average of $32.13 and a two-hundred day moving average of $32.50. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS.

Institutional Trading of Baker Hughes

Several hedge funds have recently modified their holdings of BKR. Commonwealth Equity Services LLC lifted its stake in Baker Hughes by 23.5% in the first quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company’s stock valued at $1,027,000 after buying an additional 5,839 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Baker Hughes by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,161,976 shares of the company’s stock worth $38,926,000 after purchasing an additional 17,745 shares during the period. Benjamin Edwards Inc. grew its position in Baker Hughes by 77.1% during the 1st quarter. Benjamin Edwards Inc. now owns 5,501 shares of the company’s stock worth $184,000 after purchasing an additional 2,394 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Baker Hughes by 16.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,067 shares of the company’s stock valued at $270,000 after purchasing an additional 1,117 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Baker Hughes by 127.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,515 shares of the company’s stock worth $151,000 after buying an additional 2,530 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.53%. Baker Hughes’s dividend payout ratio is presently 46.93%.

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.