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

Baker Hughes (NASDAQ:BKR) released its earnings results on Tuesday. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03, RTT News reports. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. Baker Hughes’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.46 during trading on Thursday, reaching $33.13. The stock had a trading volume of 3,480,941 shares, compared to its average volume of 8,702,037. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The firm has a market capitalization of $33.16 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 0.62 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $32.55.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is 46.93%.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred 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 transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

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.