Baker Hughes (NASDAQ:BKR) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Baker Hughes (NASDAQ:BKR) announced its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08, RTT News reports. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis.

Baker Hughes Trading Up 5.8 %

Shares of BKR stock opened at $37.65 on Friday. The firm has a fifty day moving average of $33.64 and a 200-day moving average of $32.23. The stock has a market cap of $37.57 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 0.61 and a beta of 1.41. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Bank of America dropped their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Morgan Stanley lifted their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Friday. Finally, Jefferies Financial Group lifted their target price on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $40.92.

Insider Activity

In related news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

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.