Baker Hughes A GE (NYSE:BHGE) had its price target lowered by investment analysts at Wells Fargo & Co from $45.00 to $43.00 in a research report issued on Wednesday. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co’s price objective points to a potential upside of 66.09% from the stock’s current price.
Several other equities research analysts also recently weighed in on BHGE. Cowen cut their price target on Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, July 6th. Zacks Investment Research downgraded Baker Hughes A GE from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Piper Jaffray Companies restated a “buy” rating and set a $38.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Seaport Global Securities restated a “hold” rating and set a $32.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Finally, ValuEngine upgraded Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $36.93.
Shares of NYSE BHGE opened at $25.89 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. Baker Hughes A GE has a 1-year low of $25.53 and a 1-year high of $37.76. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 49.79, a P/E/G ratio of 4.80 and a beta of 0.70.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter last year, the company earned $0.05 EPS. Baker Hughes A GE’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Baker Hughes A GE will post 0.66 earnings per share for the current fiscal year.
In other news, insider Matthias L. Heilmann sold 12,000 shares of the 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 in the company, valued at approximately $127,262. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt Camilleri sold 2,513 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $85,442.00. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BHGE. Schroder Investment Management Group purchased a new position in Baker Hughes A GE during the 2nd quarter worth approximately $125,000. Gofen & Glossberg LLC IL purchased a new position in Baker Hughes A GE during the 3rd quarter worth approximately $203,000. Indiana Trust & Investment Management CO purchased a new position in Baker Hughes A GE during the 2nd quarter worth approximately $205,000. Rathbone Brothers plc purchased a new position in Baker Hughes A GE during the 2nd quarter worth approximately $210,000. Finally, XR Securities LLC purchased a new position in Baker Hughes A GE during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 93.77% of the company’s stock.
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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