Analysts Set Baker Hughes (NASDAQ:BKR) Price Target at $47.12

Baker Hughes (NASDAQ:BKR) has received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $47.18.

Several research firms have commented on BKR. Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada lifted their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. UBS Group dropped their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, BMO Capital Markets upped their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th.

Baker Hughes Trading Up 0.1 %

NASDAQ BKR opened at $43.44 on Monday. The firm’s fifty day moving average price is $42.06 and its 200 day moving average price is $37.85. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the company posted $0.42 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes in the third quarter valued at $30,000. True Wealth Design LLC grew its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Continuum Advisory LLC increased its holdings in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares in the last quarter. Alta Advisers Ltd acquired a new position in Baker Hughes during the second quarter worth about $42,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the second quarter valued at about $48,000. 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.