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

Baker Hughes (NASDAQ:BKR) released its quarterly earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06, Briefing.com reports. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% on a year-over-year basis.

Baker Hughes Price Performance

Shares of BKR stock opened at $36.78 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $35.61 and a two-hundred day simple moving average of $34.35. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.28%. Baker Hughes’s payout ratio is currently 46.93%.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several recent research reports. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday. BMO Capital Markets increased their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Barclays raised their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Company Profile

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.