Baker Hughes (NASDAQ:BKR) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Baker Hughes (NASDAQ:BKR) released its earnings results on Thursday. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07, Zacks reports. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%.

Baker Hughes Stock Performance

Shares of BKR traded up $1.53 during trading hours on Thursday, hitting $44.60. The company had a trading volume of 11,026,595 shares, compared to its average volume of 7,099,291. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $47.47. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.88 and a beta of 1.39. The business has a fifty day moving average of $43.00 and a 200-day moving average of $38.96. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. Baker Hughes’s payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BKR. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Morgan Stanley increased their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.06.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.