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

Baker Hughes (NASDAQ:BKR) posted its quarterly earnings data on Tuesday. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.46 during trading on Thursday, hitting $33.13. 3,480,941 shares of the stock traded hands, compared to its average volume of 8,702,037. The stock has a market cap of $33.16 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The firm’s fifty day moving average is $31.89 and its 200-day moving average is $32.55. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.54%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Wednesday. Citigroup decreased their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. UBS Group upped their price target on Baker Hughes from $35.00 to $36.00 in a report on Tuesday. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.94.

Insider Activity at Baker Hughes

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

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.