Baker Hughes (NYSE:BKR) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS


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Baker Hughes (NYSE:BKR) announced its quarterly earnings results on Tuesday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01, MarketWatch Earnings reports. Baker Hughes had a negative net margin of 48.86% and a positive return on equity of 1.12%. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company earned $0.11 earnings per share. Baker Hughes’s quarterly revenue was down 11.9% compared to the same quarter last year.

NYSE:BKR opened at $19.82 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The company has a market cap of $20.62 billion, a P/E ratio of -1.23, a P/E/G ratio of 2.39 and a beta of 1.78. Baker Hughes has a fifty-two week low of $12.13 and a fifty-two week high of $25.64. The firm’s 50 day moving average is $22.11 and its two-hundred day moving average is $20.29.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 19th. Investors of record on Tuesday, February 9th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, February 8th. Baker Hughes’s payout ratio is 84.71%.

BKR has been the subject of a number of research reports. Cowen boosted their price target on shares of Baker Hughes from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, January 22nd. Piper Sandler upped their target price on shares of Baker Hughes from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, February 1st. Barclays cut shares of Baker Hughes from an “overweight” rating to an “equal weight” rating in a report on Friday, January 8th. Morgan Stanley upped their target price on shares of Baker Hughes from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, January 22nd. Finally, Credit Suisse Group reduced their target price on shares of Baker Hughes from $21.00 to $20.50 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.88.

In other Baker Hughes news, EVP Rami Qasem sold 11,438 shares of the stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $20.33, for a total transaction of $232,534.54. Following the transaction, the executive vice president now owns 25,537 shares of the company’s stock, valued at $519,167.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, 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 oil and natural gas, and oilfield service companies.

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Earnings History for Baker Hughes (NYSE:BKR)

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