Baker Hughes (NASDAQ:BKR) Receives $44.59 Average Target Price from Brokerages

Baker Hughes (NASDAQ:BKR) has earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.59.

A number of equities analysts have recently commented on the company. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted 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. Finally, Stifel Nicolaus upped their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $42.87 on Friday. The firm has a market capitalization of $42.42 billion, a PE ratio of 19.22, a P/E/G ratio of 0.72 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $37.86 and a two-hundred day moving average price of $35.39. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the firm earned $0.42 EPS. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s payout ratio is 37.67%.

Institutional Trading of Baker Hughes

A number of hedge funds have recently bought and sold shares of the company. Hohimer Wealth Management LLC lifted its stake in Baker Hughes by 3.4% in the third quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock worth $1,169,000 after purchasing an additional 1,053 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Baker Hughes by 69.7% in the third quarter. Toronto Dominion Bank now owns 527,501 shares of the company’s stock worth $19,069,000 after buying an additional 216,613 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Baker Hughes by 16.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,824 shares of the company’s stock valued at $476,000 after acquiring an additional 1,793 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Finally, M&T Bank Corp grew its position in Baker Hughes by 7.2% during the 3rd quarter. M&T Bank Corp now owns 48,075 shares of the company’s stock worth $1,738,000 after acquiring an additional 3,229 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

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.