Brokers Offer Predictions for Baker Hughes’ Q2 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Equities research analysts at Atb Cap Markets upped their Q2 2024 earnings per share estimates for Baker Hughes in a note issued to investors on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.50 per share for the quarter, up from their previous estimate of $0.47. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year.

Several other analysts have also issued reports on BKR. Citigroup dropped their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Morgan Stanley upped their price objective on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. TD Cowen upped their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $33.30 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The stock has a 50 day moving average price of $31.97 and a 200 day moving average price of $32.56. The stock has a market capitalization of $33.33 billion, a PE ratio of 18.60, a price-to-earnings-growth 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.

Baker Hughes Announces Dividend

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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Spire Wealth Management increased its position in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after buying an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Baker Hughes during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes during the 4th quarter valued at about $33,000. Montag A & Associates Inc. boosted its stake in Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Baker Hughes during the 3rd quarter valued at about $36,000. 92.06% of the stock is owned by 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.