Jefferies Financial Group downgraded shares of Baker Hughes A GE (NYSE:BHGE) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have $36.00 target price on the stock, down from their prior target price of $38.00. Jefferies Financial Group also issued estimates for Baker Hughes A GE’s Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.63 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $1.30 EPS, FY2020 earnings at $1.90 EPS, FY2021 earnings at $2.60 EPS and FY2022 earnings at $3.45 EPS.
A number of other research firms have also weighed in on BHGE. Morgan Stanley started coverage on Baker Hughes A GE in a research note on Tuesday, September 18th. They set an overweight rating and a $40.00 price objective on the stock. Seaport Global Securities reissued a hold rating and set a $32.00 price objective on shares of Baker Hughes A GE in a research note on Monday, July 23rd. Zacks Investment Research lowered Baker Hughes A GE from a hold rating to a sell rating in a research note on Tuesday, July 10th. ValuEngine raised Baker Hughes A GE from a strong sell rating to a sell rating in a research note on Tuesday, July 24th. Finally, HSBC lowered their price objective on Baker Hughes A GE to $40.00 and set a buy rating on the stock in a research note on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. Baker Hughes A GE presently has a consensus rating of Buy and a consensus price target of $36.79.
Shares of NYSE:BHGE opened at $26.07 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. The company has a market capitalization of $11.00 billion, a PE ratio of 50.13, a PEG ratio of 5.03 and a beta of 0.84. Baker Hughes A GE has a 1 year low of $25.53 and a 1 year high of $37.76.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly 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). The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Research analysts anticipate that Baker Hughes A GE will post 0.66 EPS for the current fiscal year.
In other news, insider Matthias L. Heilmann sold 12,000 shares of the company’s stock in a transaction on 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 approximately $127,262. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kurt Camilleri sold 2,513 shares of the company’s stock in a transaction on 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.
Institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of Baker Hughes A GE by 5.5% in the 2nd quarter. Morgan Stanley now owns 1,303,794 shares of the company’s stock valued at $43,065,000 after purchasing an additional 67,934 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Baker Hughes A GE by 125.5% in the 2nd quarter. Bank of Nova Scotia now owns 121,807 shares of the company’s stock valued at $4,024,000 after buying an additional 67,779 shares during the period. Strs Ohio raised its holdings in shares of Baker Hughes A GE by 18.4% in the 2nd quarter. Strs Ohio now owns 1,231,702 shares of the company’s stock valued at $40,683,000 after buying an additional 191,275 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Baker Hughes A GE by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock valued at $135,150,000 after buying an additional 65,666 shares during the period. Finally, Indus Capital Partners LLC purchased a new stake in shares of Baker Hughes A GE in the 2nd quarter valued at $28,695,000. 93.77% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Institutional Investors
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