Baker Hughes (NASDAQ:BKR) Issues Earnings Results, Beats Estimates By $0.07 EPS

Baker Hughes (NASDAQ:BKR) issued its earnings results on Thursday. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07, Zacks reports. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%.

Baker Hughes Trading Up 3.5 %

NASDAQ BKR opened at $46.18 on Friday. The firm’s 50 day moving average price is $43.03 and its two-hundred day moving average price is $39.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The stock has a market cap of $45.70 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.83 and a beta of 1.39.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 37.67%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on BKR shares. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Royal Bank of Canada lifted their price target on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Citigroup boosted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Susquehanna boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $48.06.

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.