FY2024 EPS Estimates for Baker Hughes Lowered by Analyst (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Equities researchers at Capital One Financial dropped their FY2024 EPS estimates for shares of Baker Hughes in a research note issued on Wednesday, May 1st. Capital One Financial analyst D. Becker now forecasts that the company will post earnings per share of $2.12 for the year, down from their prior estimate of $2.13. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share. Capital One Financial also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS and FY2025 earnings at $2.72 EPS.

Several other equities research analysts have also recently weighed in on BKR. 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. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. Citigroup reduced their target price 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. Finally, UBS Group boosted their price target on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Stock Performance

BKR opened at $31.92 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $32.35 and its two-hundred day moving average price is $32.45. The firm has a market capitalization of $31.95 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.44. Baker Hughes has a 12-month low of $26.96 and a 12-month high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (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 company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the 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 directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were 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 directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter worth $551,555,000. FMR LLC lifted its position in Baker Hughes by 16.8% during the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after buying an additional 2,316,638 shares in the last quarter. Northern Trust Corp grew its holdings in Baker Hughes by 4.0% during the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after acquiring an additional 379,385 shares during the last quarter. Morgan Stanley increased its position in Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after acquiring an additional 745,511 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after acquiring an additional 1,395,083 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.