Brokerages forecast that Baker Hughes A GE Co (NYSE:BHGE) will report earnings per share of $0.27 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Baker Hughes A GE’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.24. Baker Hughes A GE posted earnings per share of $0.15 during the same quarter last year, which suggests a positive year over year growth rate of 80%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that Baker Hughes A GE will report full year earnings of $0.64 per share for the current year, with EPS estimates ranging from $0.59 to $0.68. For the next fiscal year, analysts forecast that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.10 to $1.55. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Baker Hughes A GE.
Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data 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). The company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share.
A number of analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Baker Hughes A GE from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, October 9th. Morgan Stanley assumed coverage on shares of Baker Hughes A GE in a research report on Tuesday, September 18th. They set an “overweight” rating and a $40.00 target price for the company. Bank of America assumed coverage on shares of Baker Hughes A GE in a research report on Wednesday, October 17th. They set a “buy” rating for the company. Wells Fargo & Co reissued a “buy” rating on shares of Baker Hughes A GE in a research report on Tuesday, October 30th. Finally, B. Riley raised shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $42.00 in a research report on Monday, August 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $36.36.
In other news, Director Electric Co General sold 101,200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $22.47, for a total transaction of $2,273,964,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in BHGE. Schroder Investment Management Group acquired a new stake in shares of Baker Hughes A GE during the second quarter worth approximately $125,000. Gofen & Glossberg LLC IL bought a new position in Baker Hughes A GE during the third quarter worth $203,000. First Republic Investment Management Inc. bought a new position in Baker Hughes A GE during the third quarter worth $208,000. XR Securities LLC bought a new position in Baker Hughes A GE during the third quarter worth $212,000. Finally, Putnam Investments LLC bought a new position in Baker Hughes A GE during the third quarter worth $212,000. 96.06% of the stock is owned by institutional investors and hedge funds.
Shares of BHGE stock traded down $0.86 during trading hours on Monday, hitting $21.28. 368,689 shares of the company were exchanged, compared to its average volume of 11,670,911. The firm has a market cap of $9.13 billion, a P/E ratio of 40.79, a PEG ratio of 4.31 and a beta of 0.82. Baker Hughes A GE has a 1 year low of $21.67 and a 1 year high of $37.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.35.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, November 15th. Baker Hughes A GE’s dividend payout ratio (DPR) is 138.46%.
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.
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