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

Baker Hughes (NASDAQ:BKR) issued its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03, RTT News reports. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year.

Baker Hughes Stock Up 1.7 %

Shares of BKR traded up $0.54 on Tuesday, hitting $33.00. 7,401,325 shares of the stock traded hands, compared to its average volume of 8,736,500. 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 one year low of $26.81 and a one year high of $37.58. The company has a market capitalization of $33.03 billion, a PE ratio of 17.28, a P/E/G ratio of 0.62 and a beta of 1.42. The business has a 50 day simple moving average of $31.82 and a 200 day simple moving average of $32.55.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is currently 43.98%.

Insiders Place Their Bets

In other Baker Hughes 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 completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes 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 in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes 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 owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Susquehanna restated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, UBS Group upped their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.