Baker Hughes A GE (BHGE) Price Target Lowered to $40.00 at HSBC

Baker Hughes A GE (NYSE:BHGE) had its price objective trimmed by HSBC to $40.00 in a research report sent to investors on Monday. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on BHGE. Morgan Stanley initiated coverage on Baker Hughes A GE in a research report on Tuesday, September 18th. They set an overweight rating and a $40.00 price target on the stock. Seaport Global Securities reissued a hold rating and set a $32.00 price target on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Zacks Investment Research downgraded Baker Hughes A GE from a hold rating to a sell rating in a research report on Tuesday, July 10th. ValuEngine raised Baker Hughes A GE from a strong sell rating to a sell rating in a research report on Tuesday, July 24th. Finally, Stifel Nicolaus initiated coverage on Baker Hughes A GE in a research report on Monday, September 10th. They set a buy rating and a $40.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $37.66.

BHGE opened at $31.92 on Monday. Baker Hughes A GE has a 52-week low of $25.53 and a 52-week high of $37.76. The stock has a market cap of $13.93 billion, a P/E ratio of 61.38, a P/E/G ratio of 5.84 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.90.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.57 billion. Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. Baker Hughes A GE’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Equities research analysts predict that Baker Hughes A GE will post 0.72 EPS for the current year.

In other news, insider Matthias L. Heilmann sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the transaction, the insider now owns 3,743 shares of the company’s stock, valued at $127,262. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kurt Camilleri sold 2,513 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $85,442.00. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of BHGE. Morgan Stanley grew its position in Baker Hughes A GE by 5.5% during the second quarter. Morgan Stanley now owns 1,303,794 shares of the company’s stock worth $43,065,000 after buying an additional 67,934 shares in the last quarter. Bank of Nova Scotia grew its position in Baker Hughes A GE by 125.5% during the second quarter. Bank of Nova Scotia now owns 121,807 shares of the company’s stock worth $4,024,000 after buying an additional 67,779 shares in the last quarter. Strs Ohio grew its position in Baker Hughes A GE by 18.4% during the second quarter. Strs Ohio now owns 1,231,702 shares of the company’s stock worth $40,683,000 after buying an additional 191,275 shares in the last quarter. Indus Capital Partners LLC acquired a new stake in Baker Hughes A GE during the second quarter worth approximately $28,695,000. Finally, Bank of New York Mellon Corp grew its position in Baker Hughes A GE by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock worth $135,150,000 after buying an additional 65,666 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

About Baker Hughes A GE

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.

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