Q3 2024 EPS Estimates for Baker Hughes (NASDAQ:BKR) Reduced by Analyst

Baker Hughes (NASDAQ:BKR) – Analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Baker Hughes in a report released on Monday, April 15th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.58. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Baker Hughes’ FY2024 earnings at $2.08 EPS and Q4 2025 earnings at $0.66 EPS.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the business earned $0.38 earnings per share. Baker Hughes’s revenue for the quarter was up 15.7% compared to the same quarter last year.

A number of other research analysts have also recently commented on BKR. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $40.87.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $32.02 on Tuesday. The company’s fifty day moving average price is $31.55 and its 200-day moving average price is $32.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The firm has a market capitalization of $32.05 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.67 and a beta of 1.42. Baker Hughes has a one year low of $26.81 and a one year high of $37.58.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BKR. Miller Howard Investments Inc. NY increased its holdings in shares of Baker Hughes by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock valued at $1,966,000 after acquiring an additional 303 shares in the last quarter. Blue Trust Inc. increased its stake in Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares in the last quarter. Quarry LP raised its holdings in Baker Hughes by 41.3% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after buying an additional 331 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Baker Hughes by 3.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock worth $315,000 after buying an additional 350 shares in the last quarter. Finally, Rational Advisors LLC grew its holdings in shares of Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after buying an additional 382 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. Baker Hughes’s payout ratio is 43.98%.

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.