Baker Hughes (BKR) Set to Announce Earnings on Tuesday

Baker Hughes (NASDAQ:BKR) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Baker Hughes to post earnings of $0.40 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. On average, analysts expect Baker Hughes to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Baker Hughes Stock Performance

Shares of BKR opened at $32.45 on Tuesday. The firm has a market cap of $32.48 billion, a PE ratio of 16.99, a PEG ratio of 0.68 and a beta of 1.42. The stock’s fifty day moving average price is $31.44 and its two-hundred day moving average price is $32.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. Baker Hughes’s payout ratio is presently 43.98%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in BKR. Jefferies Financial Group Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter worth approximately $27,000. Quarry LP boosted its stake in Baker Hughes by 41.3% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares during the last quarter. Covestor Ltd boosted its stake in Baker Hughes by 104.7% during the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Baker Hughes by 40.6% during the 1st quarter. Belpointe Asset Management LLC now owns 2,634 shares of the company’s stock valued at $76,000 after purchasing an additional 760 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Baker Hughes by 44.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,522 shares of the company’s stock valued at $79,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays reduced their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Citigroup reduced their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen boosted their target price on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.87.

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.