Q3 2024 Earnings Estimate for Baker Hughes Issued By Atb Cap Markets (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Research analysts at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for shares of Baker Hughes in a report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.60. The consensus estimate for Baker Hughes’ current full-year earnings is $2.25 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.55 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $2.83 EPS.

Other analysts also recently issued research reports about the company. Jefferies Financial Group upped their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Citigroup lowered their price target on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.56.

Baker Hughes Trading Up 0.9 %

Shares of NASDAQ:BKR opened at $37.55 on Friday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The firm has a fifty day moving average price of $35.31 and a 200 day moving average price of $33.98. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $37.47 billion, a PE ratio of 20.98, a P/E/G ratio of 0.59 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share.

Institutional Trading of Baker Hughes

Several large investors have recently added to or reduced their stakes in BKR. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes during the second quarter worth $42,000. Headlands Technologies LLC acquired a new position in shares of Baker Hughes during the second quarter valued at $48,000. Finally, UMB Bank n.a. boosted its holdings in Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. Baker Hughes’s payout ratio is currently 46.93%.

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.