Zacks: Brokerages Anticipate Baker Hughes A GE Co (BHGE) Will Post Quarterly Sales of $5.90 Billion
Analysts predict that Baker Hughes A GE Co (NYSE:BHGE) will announce sales of $5.90 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Baker Hughes A GE’s earnings, with the highest sales estimate coming in at $6.03 billion and the lowest estimate coming in at $5.67 billion. Baker Hughes A GE reported sales of $5.38 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The business is scheduled to report its next quarterly earnings results on Friday, October 19th.
On average, analysts expect that Baker Hughes A GE will report full-year sales of $23.09 billion for the current financial year, with estimates ranging from $22.51 billion to $23.66 billion. For the next year, analysts expect that the company will post sales of $25.11 billion per share, with estimates ranging from $23.52 billion to $26.38 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Baker Hughes A GE.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Friday, July 20th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share.
In other Baker Hughes A GE news, VP Kurt Camilleri sold 2,513 shares of Baker Hughes A GE stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthias L. Heilmann sold 12,000 shares of Baker Hughes A GE stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $408,000.00. Following the transaction, the insider now directly owns 3,743 shares in the company, valued at $127,262. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in Baker Hughes A GE by 23.8% during the first quarter. Toronto Dominion Bank now owns 226,710 shares of the company’s stock valued at $6,294,000 after buying an additional 43,541 shares in the last quarter. Strs Ohio lifted its position in shares of Baker Hughes A GE by 18.4% during the second quarter. Strs Ohio now owns 1,231,702 shares of the company’s stock worth $40,683,000 after purchasing an additional 191,275 shares in the last quarter. LMR Partners LLP lifted its position in shares of Baker Hughes A GE by 137.1% during the second quarter. LMR Partners LLP now owns 70,822 shares of the company’s stock worth $2,339,000 after purchasing an additional 40,955 shares in the last quarter. DnB Asset Management AS acquired a new position in shares of Baker Hughes A GE during the second quarter worth $1,737,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Baker Hughes A GE by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock worth $135,150,000 after purchasing an additional 65,666 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BHGE opened at $32.28 on Friday. The stock has a market cap of $13.42 billion, a PE ratio of 61.79, a PEG ratio of 5.61 and a beta of 0.72. Baker Hughes A GE has a 12 month low of $25.53 and a 12 month high of $38.10. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Tuesday, August 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%. Baker Hughes A GE’s dividend payout ratio (DPR) is 138.46%.
About Baker Hughes A GE
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 for onshore and offshore operations.
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