Brokers Offer Predictions for Baker Hughes’ Q2 2024 Earnings (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) – Stock analysts at Atb Cap Markets lifted their Q2 2024 earnings per share (EPS) estimates for shares of Baker Hughes in a research report issued to clients and investors on Wednesday, April 24th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.47. The consensus estimate for Baker Hughes’ current full-year earnings is $2.07 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS and Q2 2025 earnings at $0.55 EPS.

Several other equities analysts have also commented on BKR. TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup cut their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Stock Up 1.9 %

Shares of NASDAQ:BKR opened at $33.30 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The stock has a market capitalization of $33.33 billion, a P/E ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. The stock has a 50-day simple moving average of $31.97 and a 200-day simple moving average of $32.56.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Baker Hughes in the 4th quarter worth about $551,555,000. FMR LLC lifted its stake in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares in the last quarter. Northern Trust Corp lifted its stake in Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after acquiring an additional 379,385 shares in the last quarter. Morgan Stanley lifted its stake in Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after acquiring an additional 745,511 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Baker Hughes by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after acquiring an additional 1,395,083 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was 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 $508,132.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP James E. Apostolides sold 10,000 shares of the company’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 completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

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.