Baker Hughes (NASDAQ:BKR) Posts Earnings Results, Beats Estimates By $0.06 EPS

Baker Hughes (NASDAQ:BKR) issued its earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06, Briefing.com reports. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.00 on Thursday. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The firm’s 50 day moving average price is $35.61 and its 200-day moving average price is $34.35. The firm has a market cap of $36.93 billion, a P/E ratio of 20.67, 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 will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BKR. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Bank of America lowered their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler cut their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $43.59.

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.