Baker Hughes (NASDAQ:BKR) Receives $44.59 Consensus Target Price from Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $44.59.

BKR has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Morgan Stanley upped their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the company. Hohimer Wealth Management LLC grew its position in shares of Baker Hughes by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock valued at $1,169,000 after acquiring an additional 1,053 shares during the period. Toronto Dominion Bank grew its holdings in Baker Hughes by 69.7% during the third 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 period. Coldstream Capital Management Inc. increased its position in Baker Hughes by 16.3% during the third quarter. Coldstream Capital Management Inc. now owns 12,824 shares of the company’s stock worth $476,000 after buying an additional 1,793 shares during the last quarter. Geode Capital Management LLC raised its stake in Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after buying an additional 123,172 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Baker Hughes by 7.2% in the third quarter. M&T Bank Corp now owns 48,075 shares of the company’s stock valued at $1,738,000 after buying an additional 3,229 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Up 1.4 %

Shares of NASDAQ BKR opened at $44.94 on Friday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company’s 50-day simple moving average is $38.33 and its 200-day simple moving average is $35.52. The firm has a market cap of $44.46 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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 company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Equities analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. Baker Hughes’s payout ratio is presently 37.67%.

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.