Royal Bank of Canada Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price target hoisted by Royal Bank of Canada from $43.00 to $49.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on the company. Morgan Stanley increased their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barclays boosted their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.12.

Baker Hughes Price Performance

Baker Hughes stock opened at $42.33 on Thursday. The business has a 50 day simple moving average of $40.47 and a 200 day simple moving average of $36.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market capitalization of $41.89 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Baker Hughes has a one year low of $28.32 and a one year high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC boosted its holdings in shares of Baker Hughes by 55.8% in the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock valued at $312,000 after buying an additional 3,339 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Baker Hughes by 21.0% during the second quarter. Sequoia Financial Advisors LLC now owns 7,736 shares of the company’s stock worth $272,000 after buying an additional 1,342 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Baker Hughes by 20.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 28,216 shares of the company’s stock valued at $992,000 after buying an additional 4,884 shares during the period. Blue Trust Inc. lifted its position in shares of Baker Hughes by 54.2% in the second quarter. Blue Trust Inc. now owns 4,924 shares of the company’s stock valued at $165,000 after buying an additional 1,731 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in shares of Baker Hughes by 6.2% during the 2nd quarter. TCW Group Inc. now owns 1,584,690 shares of the company’s stock worth $55,734,000 after acquiring an additional 91,816 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.