Baker Hughes (NASDAQ:BKR) Announces Quarterly Earnings Results

Baker Hughes (NASDAQ:BKR) issued its quarterly earnings results on Tuesday. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03, RTT News reports. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS.

Baker Hughes Stock Performance

BKR stock traded up $0.54 during midday trading on Tuesday, reaching $33.00. 7,401,325 shares of the company were exchanged, compared to its average volume of 8,736,500. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The business has a 50-day moving average price of $31.82 and a two-hundred day moving average price of $32.55. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BKR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Citigroup decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Insiders Place Their Bets

In other 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 sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.