Baker Hughes (NASDAQ:BKR) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Baker Hughes (NASDAQ:BKR) released its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03, RTT News reports. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business earned $0.28 earnings per share. Baker Hughes’s revenue was up 12.3% compared to the same quarter last year.

Baker Hughes Stock Up 1.7 %

Shares of NASDAQ:BKR traded up $0.54 during trading on Tuesday, hitting $33.00. 7,401,325 shares of the company were exchanged, compared to its average volume of 8,736,500. The stock has a market capitalization of $33.03 billion, a P/E ratio of 17.28, a PEG 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 12-month low of $26.81 and a 12-month high of $37.58. The firm’s 50 day moving average price is $31.82 and its 200-day moving average price is $32.55.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio is presently 43.98%.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the company’s 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 owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the company’s 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 owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the company’s 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 owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BKR. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Citigroup dropped their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Barclays dropped their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.