FY2024 EPS Estimates for Baker Hughes Increased by Analyst

Baker Hughes (NASDAQ:BKR) – Equities research analysts at Capital One Financial increased their FY2024 EPS estimates for shares of Baker Hughes in a report issued on Monday, November 4th. Capital One Financial analyst D. Becker now forecasts that the company will post earnings of $2.30 per share for the year, up from their prior forecast of $2.26. The consensus estimate for Baker Hughes’ current full-year earnings is $2.28 per share. Capital One Financial also issued estimates for Baker Hughes’ Q1 2025 earnings at $0.52 EPS.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Stifel Nicolaus increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Evercore ISI increased their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

BKR stock opened at $42.74 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a one year low of $28.32 and a one year high of $43.23. The stock has a market cap of $42.29 billion, a PE ratio of 19.17, a P/E/G ratio of 0.64 and a beta of 1.38. The firm has a 50 day simple moving average of $36.26 and a two-hundred day simple moving average of $34.70.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes in the 1st quarter worth about $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter worth about $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the 2nd quarter worth about $48,000. Finally, Quarry LP lifted its position in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.97%. Baker Hughes’s payout ratio is currently 37.67%.

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.