Baker Hughes FY2024 EPS Forecast Raised by Zacks Research

Baker Hughes (NASDAQ:BKR) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for Baker Hughes in a report released on Tuesday, November 12th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $2.29 per share for the year, up from their prior estimate of $2.22. The consensus estimate for Baker Hughes’ current full-year earnings is $2.29 per share. Zacks Research also issued estimates for Baker Hughes’ Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.67 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the business posted $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $43.18 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $37.12 and its 200-day moving average price is $35.07. The firm has a market cap of $42.73 billion, a P/E ratio of 19.23, a P/E/G ratio of 0.74 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Trading of Baker Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Twin Tree Management LP lifted its holdings in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares during the period. National Pension Service raised its position in Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares during the last quarter. Hixon Zuercher LLC acquired a new stake in Baker Hughes during the 3rd quarter valued at approximately $1,980,000. Wedge Capital Management L L P NC boosted its holdings in shares of Baker Hughes by 20.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after acquiring an additional 123,689 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Baker Hughes by 4.7% in the first quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock worth $28,129,000 after acquiring an additional 39,031 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.