FY2024 EPS Estimates for Baker Hughes Increased by Analyst

Baker Hughes (NASDAQ:BKR) – Stock analysts at Capital One Financial raised their FY2024 earnings estimates for shares of Baker Hughes in a note issued to investors on Monday, November 4th. Capital One Financial analyst D. Becker now anticipates that the company will post earnings per share of $2.30 for the year, up from their previous forecast of $2.26. The consensus estimate for Baker Hughes’ current full-year earnings is $2.28 per share. Capital One Financial also issued estimates for Baker Hughes’ Q1 2025 earnings at $0.52 EPS.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for 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 company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS.

BKR has been the subject of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Barclays upped their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Bank of America lowered their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Piper Sandler reduced their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.10 on Wednesday. Baker Hughes has a one year low of $28.32 and a one year high of $43.23. The stock has a market capitalization of $42.65 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.65 and a beta of 1.38. The company has a 50-day simple moving average of $36.26 and a 200-day simple moving average of $34.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Institutional Investors Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the period. American Century Companies Inc. increased its stake in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after acquiring an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

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.