Baker Hughes, a GE’s (BHGE) Buy Rating Reaffirmed at Royal Bank of Canada

Baker Hughes, a GE (NYSE:BHGE)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Sunday. They currently have a $35.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 2.97% from the stock’s current price.

A number of other equities analysts also recently commented on BHGE. Zacks Investment Research downgraded Baker Hughes, a GE from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Bank of America decreased their target price on Baker Hughes, a GE from $36.00 to $35.00 and set an “underperform” rating for the company in a research note on Thursday, January 25th. Jefferies Group set a $31.00 target price on Baker Hughes, a GE and gave the company a “hold” rating in a research note on Wednesday, April 4th. Morgan Stanley decreased their target price on Baker Hughes, a GE from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, B. Riley restated a “hold” rating and issued a $36.00 target price on shares of Baker Hughes, a GE in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $37.75.

Baker Hughes, a GE stock traded up $0.28 during midday trading on Friday, hitting $33.99. The stock had a trading volume of 8,270,869 shares, compared to its average volume of 4,498,716. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14,363.56, a P/E ratio of 65.37, a P/E/G ratio of 5.58 and a beta of 0.76. Baker Hughes, a GE has a 12 month low of $25.53 and a 12 month high of $42.27.

Baker Hughes, a GE (NYSE:BHGE) last announced its quarterly earnings data on Friday, April 20th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.41 billion. Baker Hughes, a GE had a positive return on equity of 0.10% and a negative net margin of 2.79%. Baker Hughes, a GE’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) earnings per share. equities research analysts anticipate that Baker Hughes, a GE will post 0.76 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexavest Inc. acquired a new position in shares of Baker Hughes, a GE during the fourth quarter worth approximately $34,752,000. Gabelli Funds LLC boosted its position in shares of Baker Hughes, a GE by 27.1% during the fourth quarter. Gabelli Funds LLC now owns 576,575 shares of the company’s stock worth $18,243,000 after buying an additional 123,000 shares during the period. California State Teachers Retirement System boosted its position in shares of Baker Hughes, a GE by 4.9% during the fourth quarter. California State Teachers Retirement System now owns 805,570 shares of the company’s stock worth $25,488,000 after buying an additional 37,285 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Baker Hughes, a GE during the fourth quarter worth approximately $306,000. Finally, Stifel Financial Corp acquired a new position in shares of Baker Hughes, a GE during the third quarter worth approximately $1,000,000. Institutional investors and hedge funds own 92.24% of the company’s stock.

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Baker Hughes, a GE Company Profile

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.

Analyst Recommendations for Baker Hughes, a GE (NYSE:BHGE)

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