Baker Hughes (NASDAQ:BKR) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Baker Hughes (NASDAQ:BKR) announced its earnings results on Tuesday. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03, RTT News reports. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.54 during midday trading on Tuesday, reaching $33.00. The company’s stock had a trading volume of 7,401,325 shares, compared to its average volume of 8,736,500. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $31.82 and a 200 day moving average price of $32.55. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.