Baker Hughes A GE Co (NYSE:BHGE) – Seaport Global Securities raised their Q3 2019 earnings estimates for shares of Baker Hughes A GE in a research report issued to clients and investors on Tuesday, October 30th. Seaport Global Securities analyst M. Urban now expects that the company will post earnings of $0.36 per share for the quarter, up from their previous forecast of $0.35. Seaport Global Securities has a “Hold” rating and a $32.00 price objective on the stock. Seaport Global Securities also issued estimates for Baker Hughes A GE’s Q4 2019 earnings at $0.52 EPS, Q1 2020 earnings at $0.32 EPS and Q2 2020 earnings at $0.40 EPS.
Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The firm had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year.
BHGE has been the subject of a number of other reports. Piper Jaffray Companies reissued a “buy” rating and issued a $38.00 target price on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Guggenheim raised Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday. Barclays reissued a “buy” rating and issued a $37.00 target price on shares of Baker Hughes A GE in a research report on Thursday, July 26th. Cowen decreased their target price on Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, July 6th. Finally, Wolfe Research assumed coverage on Baker Hughes A GE in a research report on Wednesday, October 10th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Baker Hughes A GE presently has an average rating of “Buy” and an average price target of $36.93.
NYSE:BHGE traded down $0.26 during trading hours on Friday, reaching $25.63. The stock had a trading volume of 84,157 shares, compared to its average volume of 3,743,487. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.36. Baker Hughes A GE has a 12-month low of $25.53 and a 12-month high of $37.76. The company has a market capitalization of $11.22 billion, a P/E ratio of 49.44, a P/E/G ratio of 4.80 and a beta of 0.70.
A number of institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in Baker Hughes A GE during the third quarter worth about $214,000. Moody National Bank Trust Division purchased a new position in Baker Hughes A GE during the third quarter worth about $297,000. TCW Group Inc. grew its position in Baker Hughes A GE by 2.4% during the third quarter. TCW Group Inc. now owns 4,515,865 shares of the company’s stock worth $152,771,000 after buying an additional 106,099 shares in the last quarter. Adams Natural Resources Fund Inc. grew its position in Baker Hughes A GE by 69.0% during the third quarter. Adams Natural Resources Fund Inc. now owns 83,000 shares of the company’s stock worth $2,808,000 after buying an additional 33,900 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA purchased a new position in Baker Hughes A GE during the third quarter worth about $386,000. Institutional investors and hedge funds own 93.77% of the company’s stock.
In related news, VP Kurt Camilleri sold 2,513 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthias L. Heilmann sold 12,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the transaction, the insider now owns 3,743 shares of the company’s stock, valued at $127,262. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.
Baker Hughes A GE Company Profile
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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