Baker Hughes (NYSE:BKR) Announces Quarterly Earnings Results

Baker Hughes (NYSE:BKR) announced its earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.06), MarketWatch Earnings reports. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Baker Hughes had a positive return on equity of 0.21% and a negative net margin of 0.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS.

BKR stock traded down $0.32 during midday trading on Thursday, reaching $19.91. 384,807 shares of the company were exchanged, compared to its average volume of 6,618,879. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. Baker Hughes has a 1-year low of $12.13 and a 1-year high of $26.57. The company’s 50-day moving average price is $23.87. The company has a market capitalization of $20.74 billion, a P/E ratio of -75.77 and a beta of 1.76.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Tuesday, May 25th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 24th. This represents a $0.72 dividend on an annualized basis and a yield of 3.62%. Baker Hughes’s payout ratio is currently 122.03%.

In other news, Director Electric Co General sold 43,685,723 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $22.23, for a total transaction of $971,133,622.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Maria C. Borras sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $23.48, for a total transaction of $234,800.00. Following the transaction, the executive vice president now owns 108,274 shares in the company, valued at $2,542,273.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,712,820 shares of company stock worth $971,777,780. 0.29% of the stock is owned by corporate insiders.

BKR has been the topic of several research reports. Morgan Stanley increased their price target on shares of Baker Hughes from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Cowen increased their price target on shares of Baker Hughes from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday. Seaport Global Securities initiated coverage on shares of Baker Hughes in a research report on Thursday, July 15th. They set a “buy” rating and a $28.00 price target on the stock. Barclays raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $28.00 in a research report on Monday, May 3rd. Finally, TheStreet raised shares of Baker Hughes from a “d+” rating to a “c-” rating in a research report on Monday, April 26th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.66.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, 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 oil and natural gas, and oilfield service companies.

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Earnings History for Baker Hughes (NYSE:BKR)

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