Baker Hughes (NYSE:BKR) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Baker Hughes (NYSE:BKR) released its quarterly earnings data on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06), MarketWatch Earnings reports. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.93 billion. Baker Hughes had a negative net margin of 0.85% and a positive return on equity of 0.21%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share.

Shares of Baker Hughes stock traded down $0.34 during trading on Thursday, reaching $19.89. 550,167 shares of the stock traded hands, compared to its average volume of 6,618,879. The firm has a market cap of $20.72 billion, a P/E ratio of -75.77 and a beta of 1.76. The firm’s fifty day moving average price is $23.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.59 and a quick ratio of 1.17. Baker Hughes has a 52-week low of $12.13 and a 52-week high of $26.57.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Stockholders of record on Tuesday, May 25th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.62%. Baker Hughes’s payout ratio is 122.03%.

In related news, EVP Maria C. Borras sold 10,000 shares of the stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $23.48, for a total value of $234,800.00. Following the completion of the transaction, the executive vice president now owns 108,274 shares of the company’s stock, valued at approximately $2,542,273.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Electric Co General sold 43,685,723 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $22.23, for a total transaction of $971,133,622.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,712,820 shares of company stock valued at $971,777,780. Company insiders own 0.29% of the company’s stock.

Several equities analysts recently issued reports on the company. upped their price objective on Baker Hughes from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 25th. TheStreet raised Baker Hughes from a “d+” rating to a “c-” rating in a report on Monday, April 26th. The Goldman Sachs Group assumed coverage on Baker Hughes in a report on Thursday, May 13th. They set a “buy” rating and a $29.00 price target on the stock. Seaport Global Securities assumed coverage on Baker Hughes in a report on Thursday, July 15th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Barclays raised Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $25.00 to $28.00 in a report on Monday, May 3rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Baker Hughes has an average rating of “Buy” and an average price target of $24.66.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for oil and natural gas, and oilfield service companies.

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Earnings History for Baker Hughes (NYSE:BKR)

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