Baker Hughes (NASDAQ:BKR) Given Consensus Rating of “Moderate Buy” by Brokerages

Baker Hughes (NASDAQ:BKR) has received an average rating of “Moderate Buy” from the twenty research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $45.12.

BKR has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Morgan Stanley upped their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus raised their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th.

Baker Hughes Price Performance

BKR stock opened at $41.80 on Thursday. The stock’s 50 day moving average price is $40.63 and its 200 day moving average price is $36.80. The firm has a market cap of $41.36 billion, a P/E ratio of 18.74, a PEG ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently modified their holdings of BKR. Birmingham Capital Management Co. Inc. AL increased its stake in Baker Hughes by 18.5% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock worth $578,000 after buying an additional 2,500 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Baker Hughes during the third quarter worth about $139,000. Sanctuary Advisors LLC lifted its stake in shares of Baker Hughes by 92.0% in the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock worth $3,180,000 after acquiring an additional 42,148 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in Baker Hughes by 3.4% in the third quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock valued at $1,169,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Baker Hughes by 69.7% during the 3rd quarter. Toronto Dominion Bank now owns 527,501 shares of the company’s stock worth $19,069,000 after purchasing an additional 216,613 shares during the last quarter. Institutional investors and hedge funds 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.