Baker Hughes (NASDAQ:BKR) Posts Earnings Results, Beats Expectations By $0.03 EPS

Baker Hughes (NASDAQ:BKR) issued its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share.

Baker Hughes Price Performance

BKR stock opened at $33.00 on Wednesday. The firm has a 50 day moving average price of $31.82 and a 200-day moving average price of $32.55. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s payout ratio is 43.98%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BKR shares. TD Cowen increased their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Barclays reduced their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were 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 directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction 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. Company insiders own 0.25% of the company’s stock.

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.