Baker Hughes (NASDAQ:BKR) Issues Quarterly Earnings Results

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

Baker Hughes Stock Down 1.3 %

BKR opened at $35.98 on Wednesday. The business’s fifty day simple moving average is $35.57 and its 200 day simple moving average is $34.33. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a market cap of $35.91 billion, a P/E ratio of 20.10, a PEG ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.33%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on BKR. Citigroup dropped their price target on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Susquehanna upped their target price on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Piper Sandler decreased their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.59.

View Our Latest Analysis on Baker Hughes

Baker Hughes Company Profile

(Get Free Report)

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.

See Also

Earnings History for Baker Hughes (NASDAQ:BKR)

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