ValuEngine Lowers Baker Hughes A GE (BHGE) to Sell

Baker Hughes A GE (NYSE:BHGE) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Baker Hughes A GE from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Societe Generale began coverage on Baker Hughes A GE in a report on Wednesday, February 27th. They set a “buy” rating and a $36.00 price target on the stock. Goldman Sachs Group began coverage on Baker Hughes A GE in a report on Sunday, March 10th. They set a “conviction-buy” rating and a $36.00 price target on the stock. Cowen reissued an “outperform” rating and set a $32.00 price target (down previously from $34.00) on shares of Baker Hughes A GE in a report on Monday, February 4th. Finally, Credit Suisse Group raised Baker Hughes A GE from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $33.00 to $25.00 in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Baker Hughes A GE currently has a consensus rating of “Buy” and an average price target of $35.88.

NYSE BHGE opened at $25.84 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.66. Baker Hughes A GE has a 52-week low of $20.09 and a 52-week high of $37.76. The stock has a market cap of $26.89 billion, a P/E ratio of 39.15, a P/E/G ratio of 0.53 and a beta of 0.88.

Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings results on Thursday, January 31st. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). Baker Hughes A GE had a return on equity of 0.76% and a net margin of 0.85%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the business earned $0.15 EPS. Analysts predict that Baker Hughes A GE will post 1.02 earnings per share for the current fiscal year.

In other Baker Hughes A GE news, insider William D. Marsh sold 1,242 shares of Baker Hughes A GE stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $23.31, for a total value of $28,951.02. Following the sale, the insider now owns 35,257 shares of the company’s stock, valued at approximately $821,840.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in Baker Hughes A GE in the 4th quarter valued at approximately $35,000. Bremer Trust National Association acquired a new stake in shares of Baker Hughes A GE during the 4th quarter valued at approximately $36,000. JOYN Advisors Inc. lifted its position in shares of Baker Hughes A GE by 271.0% during the 4th quarter. JOYN Advisors Inc. now owns 1,929 shares of the company’s stock valued at $41,000 after acquiring an additional 1,409 shares during the period. Advisory Services Network LLC lifted its position in shares of Baker Hughes A GE by 130.1% during the 4th quarter. Advisory Services Network LLC now owns 2,103 shares of the company’s stock valued at $45,000 after acquiring an additional 1,189 shares during the period. Finally, First Hawaiian Bank lifted its position in shares of Baker Hughes A GE by 76.0% during the 4th quarter. First Hawaiian Bank now owns 2,295 shares of the company’s stock valued at $49,000 after acquiring an additional 991 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Baker Hughes A GE Company Profile

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers 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 integrated oil and natural gas, and oilfield service companies.

Further Reading: Balance Sheet

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Analyst Recommendations for Baker Hughes A GE (NYSE:BHGE)

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