Baker Hughes (NASDAQ:BKR) Releases Earnings Results, Beats Expectations By $0.07 EPS

Baker Hughes (NASDAQ:BKR) issued its earnings results on Thursday. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07, Zacks reports. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%.

Baker Hughes Trading Up 3.6 %

Shares of BKR traded up $1.53 during trading hours on Thursday, hitting $44.60. 11,013,352 shares of the stock traded hands, compared to its average volume of 7,087,644. The business has a fifty day moving average of $43.00 and a 200-day moving average of $38.96. The firm has a market capitalization of $44.13 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.47. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 37.67%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. BMO Capital Markets boosted their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.06.

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.