Baker Hughes (NYSE:BKR) Issues Earnings Results, Misses Expectations By $0.06 EPS

Baker Hughes (NYSE:BKR) announced its quarterly earnings data on Tuesday. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.06), MarketWatch Earnings reports. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.93 billion. Baker Hughes had a positive return on equity of 0.21% and a negative net margin of 0.85%. Baker Hughes’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share.

NYSE BKR traded down $0.34 on Thursday, reaching $19.89. The stock had a trading volume of 550,167 shares, compared to its average volume of 6,618,879. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.17 and a current ratio of 1.59. The stock’s fifty day moving average is $23.87. Baker Hughes has a 1-year low of $12.13 and a 1-year high of $26.57. The stock has a market capitalization of $20.72 billion, a P/E ratio of -75.77 and a beta of 1.76.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Tuesday, May 25th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Monday, May 24th. Baker Hughes’s dividend payout ratio is 122.03%.

In other news, EVP Maria C. Borras sold 7,097 shares of the company’s stock in a transaction on Thursday, June 10th. The stock was sold at an average price of $26.16, for a total transaction of $185,657.52. Following the completion of the sale, the executive vice president now directly owns 118,274 shares in the company, valued at approximately $3,094,047.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Electric Co General sold 43,685,723 shares of the company’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $22.23, for a total value of $971,133,622.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,712,820 shares of company stock worth $971,777,780. Insiders own 0.29% of the company’s stock.

Several research firms have recently issued reports on BKR. Cowen boosted their target price on Baker Hughes from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $28.00 in a research report on Monday, May 3rd. Morgan Stanley lifted their price objective on Baker Hughes from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Zacks Investment Research upgraded Baker Hughes from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, June 22nd. Finally, Seaport Global Securities started coverage on Baker Hughes in a report on Thursday, July 15th. They set a “buy” rating and a $28.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.66.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, 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 oil and natural gas, and oilfield service companies.

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Earnings History for Baker Hughes (NYSE:BKR)

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