Baker Hughes (NASDAQ:BKR) Receives $44.59 Consensus Target Price from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $44.59.

Several equities analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Citigroup increased their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Barclays raised their target price on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, UBS Group dropped their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $42.87 on Friday. The company has a market capitalization of $42.42 billion, a PE ratio of 19.22, a P/E/G ratio of 0.72 and a beta of 1.38. 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 has a twelve month low of $28.32 and a twelve month high of $44.49. The firm has a fifty day simple moving average of $37.86 and a 200 day simple moving average of $35.39.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Groupama Asset Managment grew its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. New Covenant Trust Company N.A. bought a new position in Baker Hughes during the first quarter valued at $34,000. Finally, Continuum Advisory LLC increased its position in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. 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.