Baker Hughes (NASDAQ:BKR) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Baker Hughes (NASDAQ:BKR) posted its quarterly earnings results on Thursday. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06, Zacks reports. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 10.43% and a return on equity of 14.41%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Baker Hughes updated its FY 2025 guidance to EPS.

Baker Hughes Trading Down 3.3%

BKR stock opened at $47.30 on Friday. The company has a market capitalization of $46.63 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.99. Baker Hughes has a one year low of $33.60 and a one year high of $50.92. The company’s 50 day moving average price is $46.53 and its two-hundred day moving average price is $41.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BKR. Capital One Financial increased their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Morgan Stanley upped their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Zephirin Group upped their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Melius Research started coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday. Twenty-one research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.91.

Insider Activity at Baker Hughes

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BKR. Woodline Partners LP boosted its holdings in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after acquiring an additional 24,225 shares in the last quarter. Focus Partners Wealth boosted its holdings in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after acquiring an additional 986 shares in the last quarter. Jump Financial LLC bought a new stake in Baker Hughes in the second quarter valued at $2,301,000. NewEdge Advisors LLC boosted its holdings in Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new stake in Baker Hughes in the second quarter valued at $1,014,000. Institutional investors own 92.06% 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.