Zacks: Analysts Expect Baker Hughes A GE Co (BHGE) Will Announce Quarterly Sales of $5.89 Billion

Equities research analysts forecast that Baker Hughes A GE Co (NYSE:BHGE) will post $5.89 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Baker Hughes A GE’s earnings. The lowest sales estimate is $5.67 billion and the highest is $6.03 billion. Baker Hughes A GE reported sales of $5.38 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The business is expected to report its next earnings report on Friday, October 19th.

According to Zacks, analysts expect that Baker Hughes A GE will report full year sales of $23.08 billion for the current financial year, with estimates ranging from $22.51 billion to $23.66 billion. For the next year, analysts anticipate that the firm will report sales of $25.13 billion per share, with estimates ranging from $23.52 billion to $26.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Baker Hughes A GE.

Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings data on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Baker Hughes A GE had a negative net margin of 0.37% and a positive return on equity of 0.43%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis.



A number of research firms have weighed in on BHGE. Barclays reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Baker Hughes A GE in a research note on Thursday, July 26th. SunTrust Banks raised shares of Baker Hughes A GE from a “hold” rating to a “buy” rating and raised their price target for the company from $34.00 to $39.00 in a research report on Tuesday, July 24th. ValuEngine raised shares of Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Seaport Global Securities reissued a “hold” rating and set a $32.00 price target on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $38.00 price target on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Baker Hughes A GE presently has an average rating of “Hold” and an average price target of $37.30.

Shares of Baker Hughes A GE stock traded down $0.19 during trading hours on Friday, reaching $33.93. The company’s stock had a trading volume of 4,357,200 shares, compared to its average volume of 4,667,815. Baker Hughes A GE has a one year low of $25.53 and a one year high of $38.10. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 65.25, a price-to-earnings-growth ratio of 5.88 and a beta of 0.74. The company has a current ratio of 1.90, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Tuesday, August 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Monday, August 13th. Baker Hughes A GE’s dividend payout ratio is 138.46%.

In other Baker Hughes A GE news, insider Matthias L. Heilmann sold 12,000 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the insider now owns 3,743 shares of the company’s stock, valued at $127,262. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kurt Camilleri sold 2,513 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

A number of hedge funds have recently made changes to their positions in BHGE. Kiltearn Partners LLP bought a new stake in Baker Hughes A GE in the first quarter worth about $101,956,000. The Manufacturers Life Insurance Company raised its position in Baker Hughes A GE by 471.0% in the first quarter. The Manufacturers Life Insurance Company now owns 2,534,455 shares of the company’s stock worth $70,382,000 after acquiring an additional 2,090,578 shares during the period. Ceredex Value Advisors LLC bought a new stake in Baker Hughes A GE in the first quarter worth about $36,831,000. American Century Companies Inc. raised its position in Baker Hughes A GE by 15.2% in the first quarter. American Century Companies Inc. now owns 8,938,740 shares of the company’s stock worth $248,229,000 after acquiring an additional 1,176,328 shares during the period. Finally, Indus Capital Partners LLC purchased a new position in shares of Baker Hughes A GE in the second quarter worth about $28,695,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

About Baker Hughes A GE

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers 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 integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.

Featured Story: Penny Stocks, Risk and Reward Factors

Get a free copy of the Zacks research report on Baker Hughes A GE (BHGE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Baker Hughes A GE (NYSE:BHGE)

Receive News & Ratings for Baker Hughes A GE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes A GE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply