Baker Hughes (NASDAQ:BKR) Announces Earnings Results, Beats Estimates By $0.03 EPS

Baker Hughes (NASDAQ:BKR) released its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business earned $0.28 EPS. Baker Hughes’s revenue was up 12.3% compared to the same quarter last year.

Baker Hughes Trading Up 1.9 %

BKR traded up $0.63 on Thursday, reaching $33.30. 7,963,044 shares of the company’s stock were exchanged, compared to its average volume of 8,760,800. The company’s 50 day moving average is $31.89 and its 200-day moving average is $32.55. The company has a market cap of $33.33 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. 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. Investors of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BKR shares. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Citigroup dropped their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, 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 the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.