Equities research analysts predict that Baker Hughes A GE Co (NYSE:BHGE) will post $6.17 billion in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Baker Hughes A GE’s earnings, with the lowest sales estimate coming in at $6.09 billion and the highest estimate coming in at $6.29 billion. Baker Hughes A GE reported sales of $5.67 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 29th.
On average, analysts expect that Baker Hughes A GE will report full-year sales of $24.44 billion for the current year, with estimates ranging from $24.06 billion to $24.77 billion. For the next financial year, analysts forecast that the business will report sales of $26.90 billion, with estimates ranging from $26.16 billion to $28.14 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Baker Hughes A GE.
Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share.
A number of equities analysts have commented on BHGE shares. Jefferies Financial Group set a $32.00 price objective on shares of Baker Hughes A GE and gave the stock a “buy” rating in a report on Thursday, June 6th. TheStreet upgraded Baker Hughes A GE from a “d+” rating to a “c-” rating in a research note on Thursday, June 20th. AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. Royal Bank of Canada cut their target price on Baker Hughes A GE to $33.00 and set an “average” rating on the stock in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co cut their target price on Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.44.
In related news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $20.75 per share, for a total transaction of $207,500.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $311,250. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lorenzo Simonelli acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $20.61 per share, for a total transaction of $309,150.00. Following the completion of the purchase, the chief executive officer now owns 113,368 shares of the company’s stock, valued at $2,336,514.48. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Baker Hughes A GE by 0.5% during the second quarter. Vanguard Group Inc. now owns 48,415,177 shares of the company’s stock valued at $1,192,466,000 after purchasing an additional 235,028 shares in the last quarter. BlackRock Inc. raised its position in Baker Hughes A GE by 18.8% in the second quarter. BlackRock Inc. now owns 45,244,203 shares of the company’s stock worth $1,114,366,000 after acquiring an additional 7,154,384 shares in the last quarter. Invesco Ltd. raised its position in Baker Hughes A GE by 2.9% in the second quarter. Invesco Ltd. now owns 14,356,911 shares of the company’s stock worth $353,610,000 after acquiring an additional 406,655 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Baker Hughes A GE by 24.4% in the first quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock worth $325,427,000 after acquiring an additional 2,301,773 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in Baker Hughes A GE by 14.1% in the second quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock worth $155,639,000 after acquiring an additional 778,490 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
Baker Hughes A GE stock traded up $0.35 during mid-day trading on Wednesday, reaching $21.06. The company’s stock had a trading volume of 5,972,900 shares, compared to its average volume of 4,796,608. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 2.81 and a beta of 0.91. The business has a 50 day moving average price of $24.17 and a 200-day moving average price of $24.79. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. Baker Hughes A GE has a twelve month low of $20.09 and a twelve month high of $34.49.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Monday, August 12th. Baker Hughes A GE’s payout ratio is 109.09%.
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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