Zacks Research Expects Increased Earnings for Baker Hughes

Baker Hughes (NASDAQ:BKR) – Research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for Baker Hughes in a report issued on Tuesday, November 12th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $2.29 per share for the year, up from their prior estimate of $2.22. The consensus estimate for Baker Hughes’ current full-year earnings is $2.29 per share. Zacks Research also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.67 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

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

Several other brokerages have also recently weighed in on BKR. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. BMO Capital Markets raised their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, TD Cowen increased their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Stock Up 0.3 %

Shares of NASDAQ:BKR opened at $43.18 on Thursday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $44.49. The stock has a market cap of $42.73 billion, a P/E ratio of 19.23, a PEG ratio of 0.74 and a beta of 1.38. The business has a fifty day moving average of $37.12 and a two-hundred day moving average of $35.07. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes Dividend Announcement

The company also recently announced 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 1.95%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of BKR. Price T Rowe Associates Inc. MD boosted its stake in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the period. Eagle Asset Management Inc. lifted its holdings in Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after buying an additional 817,227 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after acquiring an additional 780,417 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Baker Hughes during the third quarter worth $27,914,000. 92.06% of the stock is owned by institutional investors and hedge funds.

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.