Baker Hughes FY2024 EPS Estimate Boosted by Atb Cap Markets

Baker Hughes (NASDAQ:BKR) – Equities research analysts at Atb Cap Markets increased their FY2024 EPS estimates for Baker Hughes in a research note issued to investors on Wednesday, October 23rd. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of $2.29 for the year, up from their previous forecast of $2.20. 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 $0.62 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.62 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.84 EPS.

Several other equities research analysts also recently issued reports on BKR. Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Barclays lifted their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America decreased their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. TD Cowen lifted their price objective 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. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Trading Down 0.3 %

Shares of BKR stock opened at $37.40 on Monday. The firm has a 50 day moving average price of $35.74 and a two-hundred day moving average price of $34.41. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $37.33 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

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. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.25%. Baker Hughes’s payout ratio is presently 46.93%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were 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 $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in Baker Hughes in the first quarter valued at $27,000. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes during the first quarter valued at about $34,000. Alta Advisers Ltd acquired a new position in shares of Baker Hughes during the second quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Quarry LP grew its stake in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Institutional investors and hedge funds 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.