Analysts Set Expectations for Baker Hughes FY2024 Earnings

Baker Hughes (NASDAQ:BKR) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Baker Hughes in a research report issued on Tuesday, November 12th. Zacks Research analyst R. Department now expects that the company will post earnings of $2.29 per share for the year, up from their prior forecast of $2.22. The consensus estimate for Baker Hughes’ current full-year earnings is $2.29 per share. Zacks Research also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.67 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

A number of other research analysts also recently issued reports on the stock. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Susquehanna boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ BKR opened at $42.94 on Thursday. The company has a market capitalization of $42.49 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $44.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The company’s 50 day moving average price is $37.30 and its 200-day moving average price is $35.13.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Groupama Asset Managment raised its stake in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the 1st quarter worth approximately $34,000. Finally, Continuum Advisory LLC raised its stake in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

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.