FY2024 EPS Estimates for Baker Hughes Cut by Capital One Financial (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Research analysts at Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Baker Hughes in a research report issued on Wednesday, May 1st. Capital One Financial analyst D. Becker now forecasts that the company will earn $2.12 per share for the year, down from their prior forecast of $2.13. The consensus estimate for Baker Hughes’ current full-year earnings is $2.08 per share. Capital One Financial also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS and FY2025 earnings at $2.72 EPS.

A number of other analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen increased their price objective 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. Susquehanna restated a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $31.92 on Friday. The business has a 50-day moving average of $32.35 and a two-hundred day moving average of $32.45. The firm has a market capitalization of $31.95 billion, a PE ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 12 month low of $26.96 and a 12 month high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Norges Bank acquired a new position in Baker Hughes during the 4th quarter valued at approximately $551,555,000. Cardano Risk Management B.V. acquired a new position in shares of Baker Hughes during the first quarter valued at $117,083,000. FMR LLC grew its position in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Baker Hughes by 846.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after purchasing an additional 1,822,487 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.63%. Baker Hughes’s dividend payout ratio is presently 46.93%.

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.