TD Cowen Has Lowered Expectations for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its target price lowered by investment analysts at TD Cowen from $53.00 to $51.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 17.40% from the stock’s current price.

BKR has been the subject of a number of other reports. Piper Sandler assumed coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 price target for the company. Bank of America boosted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Trading Up 0.1 %

Shares of BKR stock opened at $43.44 on Wednesday. The company’s fifty day simple moving average is $42.17 and its two-hundred day simple moving average is $37.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The stock has a market capitalization of $42.99 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridges Investment Management Inc. raised its stake in shares of Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after acquiring an additional 273 shares during the last quarter. Graypoint LLC raised its stake in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after acquiring an additional 398 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after acquiring an additional 401 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Baker Hughes by 7.8% during the third quarter. Brooklyn Investment Group now owns 6,756 shares of the company’s stock valued at $244,000 after acquiring an additional 490 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.