Analysts Set Baker Hughes (NASDAQ:BKR) Target Price at $47.12

Baker Hughes (NASDAQ:BKR) has earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $47.18.

A number of analysts have recently weighed in on BKR shares. Barclays raised their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Finally, UBS Group reduced their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th.

Baker Hughes Trading Down 0.4 %

NASDAQ:BKR opened at $43.26 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The firm has a market capitalization of $42.81 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The business’s 50-day moving average is $42.28 and its two-hundred day moving average is $38.00.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data 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. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently made changes to their positions in the business. TD Asset Management Inc raised its stake in Baker Hughes by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 423,848 shares of the company’s stock valued at $14,907,000 after acquiring an additional 24,145 shares in the last quarter. Candriam S.C.A. lifted its holdings in Baker Hughes by 13.4% in the second quarter. Candriam S.C.A. now owns 87,219 shares of the company’s stock worth $3,067,000 after purchasing an additional 10,294 shares during the period. Savant Capital LLC grew its position in Baker Hughes by 9.9% in the 2nd quarter. Savant Capital LLC now owns 95,908 shares of the company’s stock valued at $3,373,000 after buying an additional 8,633 shares in the last quarter. Acadian Asset Management LLC increased its stake in Baker Hughes by 77.0% during the 2nd quarter. Acadian Asset Management LLC now owns 423,642 shares of the company’s stock valued at $14,894,000 after buying an additional 184,291 shares during the period. Finally, Caprock Group LLC raised its position in shares of Baker Hughes by 56.4% during the 2nd quarter. Caprock Group LLC now owns 30,480 shares of the company’s stock worth $1,072,000 after buying an additional 10,992 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.