Baker Hughes (NASDAQ:BKR) Forecasted to Post Q3 2024 Earnings of $0.56 Per Share

Baker Hughes (NASDAQ:BKR) – Equities research analysts at Atb Cap Markets decreased their Q3 2024 earnings estimates for shares of Baker Hughes in a research note issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.60. The consensus estimate for Baker Hughes’ current full-year earnings is $2.25 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.55 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $2.83 EPS.

Several other equities analysts also recently weighed in on BKR. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Piper Sandler lowered their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup decreased their target price on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, Evercore ISI upped their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.56.

Baker Hughes Stock Up 1.0 %

Baker Hughes stock opened at $37.93 on Friday. The business’s 50-day simple moving average is $35.31 and its two-hundred day simple moving average is $34.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The company has a market cap of $37.85 billion, a PE ratio of 21.19, a PEG ratio of 0.59 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.21%. Baker Hughes’s payout ratio is 46.93%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BKR. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes during the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new position in Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes during the 2nd quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the second quarter valued at approximately $48,000. Finally, UMB Bank n.a. increased its position in shares of Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.