Baker Hughes (NASDAQ:BKR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $44.59.

Several equities analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets raised their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their target price on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Baker Hughes Price Performance

Shares of BKR opened at $44.25 on Friday. The company has a market capitalization of $43.79 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.76 and a beta of 1.38. The business’s 50-day moving average is $38.54 and its two-hundred day moving average is $35.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the business earned $0.42 earnings per share. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BKR. Bridges Investment Management Inc. lifted its holdings in Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after acquiring an additional 273 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the last quarter. Graypoint LLC grew its holdings in shares of Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Baker Hughes by 4.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 92.06% 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.