Q2 2024 EPS Estimates for Baker Hughes Increased by Atb Cap Markets (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Equities researchers at Atb Cap Markets lifted their Q2 2024 EPS estimates for Baker Hughes in a research note issued to investors on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of $0.50 for the quarter, up from their previous estimate of $0.47. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

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

BKR has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Barclays decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $32.84 on Friday. The company’s 50 day simple moving average is $32.05 and its 200 day simple moving average is $32.54. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on 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 directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction on Tuesday, March 5th. The shares were 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 directly 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 owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new stake in shares of Baker Hughes during the fourth quarter worth about $4,813,000. Nordea Investment Management AB boosted its holdings in Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Baker Hughes by 15.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 527,145 shares of the company’s stock worth $18,018,000 after purchasing an additional 70,257 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Baker Hughes by 8.7% during the fourth quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after purchasing an additional 248,125 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

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.