Baker Hughes, a GE (NYSE:BHGE) had its price objective raised by Bank of America from $33.00 to $36.00 in a report released on Wednesday morning. They currently have a buy rating on the stock.
Several other brokerages have also recently issued reports on BHGE. Cowen set a $55.00 price objective on Baker Hughes, a GE and gave the company a buy rating in a report on Thursday, January 11th. Zacks Investment Research cut Baker Hughes, a GE from a hold rating to a sell rating in a report on Tuesday, January 9th. Morgan Stanley decreased their price objective on Baker Hughes, a GE from $48.00 to $44.00 and set an overweight rating for the company in a report on Thursday, January 25th. Wells Fargo decreased their price objective on Baker Hughes, a GE from $43.00 to $40.00 and set an outperform rating for the company in a report on Thursday, January 25th. Finally, JPMorgan Chase decreased their price objective on Baker Hughes, a GE from $30.00 to $29.00 and set a neutral rating for the company in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. Baker Hughes, a GE currently has a consensus rating of Hold and an average target price of $37.52.
Shares of BHGE stock opened at $33.76 on Wednesday. The stock has a market capitalization of $13,864.91, a PE ratio of 64.92, a P/E/G ratio of 5.38 and a beta of 0.76. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. Baker Hughes, a GE has a 52-week low of $25.53 and a 52-week high of $42.27.
Baker Hughes, a GE (NYSE:BHGE) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $5.76 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Baker Hughes, a GE had a positive return on equity of 0.10% and a negative net margin of 2.79%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. equities research analysts expect that Baker Hughes, a GE will post 0.76 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexavest Inc. acquired a new position in Baker Hughes, a GE in the 4th quarter worth about $34,752,000. Gabelli Funds LLC increased its stake in Baker Hughes, a GE by 27.1% during the 4th quarter. Gabelli Funds LLC now owns 576,575 shares of the company’s stock worth $18,243,000 after buying an additional 123,000 shares in the last quarter. California State Teachers Retirement System increased its stake in Baker Hughes, a GE by 4.9% during the 4th quarter. California State Teachers Retirement System now owns 805,570 shares of the company’s stock worth $25,488,000 after buying an additional 37,285 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Baker Hughes, a GE during the 4th quarter worth approximately $306,000. Finally, Stifel Financial Corp purchased a new stake in Baker Hughes, a GE during the 3rd quarter worth approximately $1,000,000. 92.24% of the stock is owned by institutional investors.
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About Baker Hughes, a GE
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers 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 integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.
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