Baker Hughes (BKR) Set to Announce Quarterly Earnings on Wednesday

Baker Hughes (NASDAQ:BKR) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 17th. Analysts expect Baker Hughes to post earnings of $0.40 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts expect Baker Hughes to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Baker Hughes Price Performance

BKR stock opened at $32.45 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The firm has a market capitalization of $32.48 billion, a PE ratio of 16.99, a P/E/G ratio of 0.68 and a beta of 1.42. The firm has a 50-day moving average of $31.44 and a two-hundred day moving average of $32.62.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.59%. Baker Hughes’s dividend payout ratio is currently 43.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.87.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Baker Hughes by 0.5% in the first quarter. State Street Corp now owns 67,473,141 shares of the company’s stock worth $1,947,274,000 after acquiring an additional 365,013 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Baker Hughes by 2.4% in the first quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company’s stock worth $615,984,000 after acquiring an additional 495,677 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Baker Hughes by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,157,022 shares of the company’s stock worth $449,709,000 after acquiring an additional 383,995 shares during the last quarter. Morgan Stanley grew its stake in shares of Baker Hughes by 27.2% in the fourth quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock worth $265,378,000 after acquiring an additional 1,919,760 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Baker Hughes by 16.1% in the fourth quarter. Legal & General Group Plc now owns 8,678,245 shares of the company’s stock worth $296,623,000 after acquiring an additional 1,206,260 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.