Baker Hughes (NASDAQ:BKR – Get Free Report) announced its earnings results on Tuesday. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03, RTT News reports. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share.
Baker Hughes Price Performance
Shares of NASDAQ BKR traded up $0.54 during midday trading on Tuesday, reaching $33.00. The company’s stock had a trading volume of 7,401,325 shares, compared to its average volume of 8,736,500. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $31.82 and a 200 day moving average price of $32.55. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.
Baker Hughes Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders 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 dividend yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.
Insider Buying and Selling
Analysts Set New Price Targets
A number of research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.
Read Our Latest Research Report on BKR
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.
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