TD Cowen Issues Pessimistic Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price objective dropped by research analysts at TD Cowen from $53.00 to $51.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 17.76% from the company’s current price.

BKR has been the subject of a number of other reports. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their price target on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Morgan Stanley lifted their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.18.

Baker Hughes Trading Down 0.2 %

Baker Hughes stock traded down $0.09 during midday trading on Wednesday, reaching $43.31. The stock had a trading volume of 2,231,360 shares, compared to its average volume of 5,111,141. The firm’s fifty day simple moving average is $41.94 and its two-hundred day simple moving average is $37.81. 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 firm has a market cap of $42.86 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.72 and a beta of 1.39. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17.

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

Hedge Funds Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its holdings in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares in the last quarter. Groupama Asset Managment grew its position in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Alta Advisers Ltd acquired a new position in Baker Hughes in the second quarter valued at $42,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Company Profile

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.