Q3 2024 EPS Estimates for Baker Hughes Raised by Analyst (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Equities researchers at Zacks Research increased their Q3 2024 EPS estimates for Baker Hughes in a report issued on Monday, September 16th. Zacks Research analyst R. Department now expects that the company will post earnings of $0.59 per share for the quarter, up from their prior estimate of $0.56. The consensus estimate for Baker Hughes’ current full-year earnings is $2.24 per share. Zacks Research also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.22 EPS, Q3 2025 earnings at $0.70 EPS, FY2025 earnings at $2.58 EPS, Q1 2026 earnings at $0.70 EPS, Q2 2026 earnings at $0.78 EPS and FY2026 earnings at $3.13 EPS.

BKR has been the topic of a number of other reports. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Morgan Stanley reduced their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Evercore ISI raised their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $43.19.

Baker Hughes Price Performance

BKR opened at $34.67 on Thursday. The stock’s 50 day moving average price is $35.12 and its 200-day moving average price is $33.59. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The stock has a market capitalization of $34.60 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders 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 annualized dividend and a dividend yield of 2.42%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several institutional investors have recently added to or reduced their stakes in BKR. UMB Bank n.a. grew its stake in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after acquiring an additional 291 shares during the period. Guinness Atkinson Asset Management Inc grew its position in Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the period. Checchi Capital Advisers LLC raised its stake in Baker Hughes by 6.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock valued at $273,000 after buying an additional 490 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock valued at $350,000 after buying an additional 520 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after buying an additional 525 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.