Baker Hughes (NASDAQ:BKR) Receives $44.76 Consensus Target Price from Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $45.12.

A number of analysts have weighed in on BKR shares. Barclays increased their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna lifted their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes in the third quarter valued at $30,000. True Wealth Design LLC lifted its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Groupama Asset Managment boosted its position in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC raised its holdings in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Finally, Alta Advisers Ltd purchased a new stake in Baker Hughes during the second quarter valued at about $42,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 0.8 %

NASDAQ:BKR opened at $41.80 on Thursday. The stock has a 50-day simple moving average of $40.63 and a 200 day simple moving average of $36.80. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

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.