Zacks Investment Research downgraded shares of Baker Hughes (NYSE:BKR) from a hold rating to a strong sell rating in a research report released on Friday morning, Zacks.com reports.
According to Zacks, “Baker Hughes, a GE Company is a provider of integrated oilfield products, services and digital solutions. Baker Hughes a GE Company, formerly known as Baker Hughes, is based in Houston, United States. “
A number of other brokerages have also recently commented on BKR. TheStreet cut Baker Hughes from a c- rating to a d rating in a research report on Monday, October 21st. Barclays reissued a buy rating and issued a $28.00 price target on shares of Baker Hughes in a research report on Friday, November 1st.
Baker Hughes stock traded up $0.17 during trading hours on Friday, hitting $22.25. 2,890,075 shares of the stock traded hands, compared to its average volume of 5,267,808. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 3.07 and a beta of 0.98. Baker Hughes has a one year low of $20.09 and a one year high of $28.65.
Baker Hughes (NYSE:BKR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $6.11 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post 0.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a $0.18 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.24%. Baker Hughes’s dividend payout ratio is currently 109.09%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $32,000. Advisory Services Network LLC bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $40,000. Huntington National Bank bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $109,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $132,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $165,000. 48.40% of the stock is currently owned by hedge funds and other institutional investors.
About Baker Hughes
Baker Hughes 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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