Baker Hughes (NASDAQ:BKR) Issues Quarterly Earnings Results

Baker Hughes (NASDAQ:BKR) released its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year.

Baker Hughes Trading Down 1.0 %

Shares of NASDAQ BKR opened at $32.67 on Thursday. The company has a market cap of $32.70 billion, a PE ratio of 18.25, a P/E/G ratio of 0.62 and a beta of 1.42. The firm’s 50 day moving average price is $31.89 and its 200-day moving average price is $32.55. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BKR shares. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. Finally, Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.94.

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.