Baker Hughes Inc. (NYSE:BHI) – Analysts at Seaport Global Securities upped their Q3 2017 earnings per share (EPS) estimates for Baker Hughes in a research report issued on Wednesday. Seaport Global Securities analyst K. Sill now forecasts that the firm will earn $0.09 per share for the quarter, up from their previous estimate of $0.08. Seaport Global Securities also issued estimates for Baker Hughes’ Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.59 EPS.
Other equities analysts have also issued research reports about the stock. FBR & Co reiterated a “buy” rating on shares of Baker Hughes in a report on Friday, July 29th. BMO Capital Markets reiterated a “buy” rating and set a $50.00 price objective on shares of Baker Hughes in a report on Friday, July 29th. Citigroup Inc. dropped their price objective on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Credit Suisse Group AG reiterated a “buy” rating on shares of Baker Hughes in a report on Tuesday, June 28th. Finally, Argus upped their price objective on shares of Baker Hughes from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $53.42.
Shares of Baker Hughes (NYSE:BHI) traded down 1.26% during midday trading on Thursday, reaching $51.84. 2,769,580 shares of the company traded hands. The company has a 50-day moving average of $50.21 and a 200 day moving average of $46.95. Baker Hughes has a 12-month low of $37.58 and a 12-month high of $56.81. The firm’s market capitalization is $22.18 billion.
Baker Hughes (NYSE:BHI) last issued its earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The firm earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was down 39.3% on a year-over-year basis.
Large investors have recently bought and sold shares of the company. National Pension Service boosted its stake in Baker Hughes by 8.3% in the third quarter. National Pension Service now owns 358,235 shares of the oilfield services provider’s stock valued at $18,080,000 after buying an additional 27,570 shares in the last quarter. Viking Fund Management LLC boosted its position in shares of Baker Hughes by 19.6% in the third quarter. Viking Fund Management LLC now owns 550,000 shares of the oilfield services provider’s stock worth $27,759,000 after buying an additional 90,000 shares during the period. Fruth Investment Management acquired a new position in shares of Baker Hughes during the third quarter worth about $214,000. Genesee Valley Trust Co. acquired a new position in shares of Baker Hughes during the third quarter worth about $206,000. Finally, Capstone Asset Management Co. boosted its position in shares of Baker Hughes by 2.5% in the third quarter. Capstone Asset Management Co. now owns 39,490 shares of the oilfield services provider’s stock worth $1,993,000 after buying an additional 966 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Alan R. Crain, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $47.01, for a total value of $329,070.00. Following the completion of the sale, the senior vice president now directly owns 51,385 shares of the company’s stock, valued at approximately $2,415,608.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $53.00, for a total transaction of $159,000.00. Following the completion of the sale, the senior vice president now directly owns 21,160 shares of the company’s stock, valued at $1,121,480. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.
Baker Hughes Company Profile
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.
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