Baker Hughes A GE Co to Post FY2019 Earnings of $0.98 Per Share, Capital One Financial Forecasts (NYSE:BHGE)

Baker Hughes A GE Co (NYSE:BHGE) – Investment analysts at Capital One Financial raised their FY2019 earnings estimates for Baker Hughes A GE in a research report issued to clients and investors on Monday, October 7th. Capital One Financial analyst L. Lemoine now expects that the company will earn $0.98 per share for the year, up from their prior estimate of $0.97. Capital One Financial also issued estimates for Baker Hughes A GE’s Q4 2019 earnings at $0.37 EPS and FY2020 earnings at $1.51 EPS.

A number of other analysts have also recently weighed in on the company. Morgan Stanley reduced their price target on Baker Hughes A GE from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday. ValuEngine raised Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reduced their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Finally, Wells Fargo & Co cut their price objective on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Baker Hughes A GE presently has an average rating of “Buy” and an average price target of $33.15.

Shares of NYSE:BHGE opened at $22.23 on Thursday. Baker Hughes A GE has a fifty-two week low of $20.09 and a fifty-two week high of $31.26. The business has a 50-day moving average of $22.68 and a two-hundred day moving average of $23.81. The stock has a market capitalization of $22.19 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.76 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.60 and a quick ratio of 1.09.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year.

In other Baker Hughes A GE news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $20.75 per share, with a total value of $207,500.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $311,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Uwem Ukpong sold 16,686 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $23.62, for a total value of $394,123.32. Following the transaction, the insider now owns 271 shares in the company, valued at $6,401.02. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BHGE. Commonwealth Bank of Australia increased its stake in Baker Hughes A GE by 63.1% during the second quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the period. Centaurus Financial Inc. bought a new position in Baker Hughes A GE during the first quarter valued at about $33,000. Perkins Coie Trust Co increased its stake in Baker Hughes A GE by 38.3% during the second quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock valued at $40,000 after acquiring an additional 453 shares during the period. Price Wealth Management Inc. bought a new position in Baker Hughes A GE during the second quarter valued at about $63,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Baker Hughes A GE during the second quarter valued at about $66,000. Hedge funds and other institutional investors own 48.38% of the company’s stock.

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.

Read More: Why Net Income is Important to Investors

Earnings History and Estimates for Baker Hughes A GE (NYSE:BHGE)

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