Royal Bank of Canada Reaffirms Outperform Rating for Baker Hughes (NASDAQ:BKR)

Royal Bank of Canada restated their outperform rating on shares of Baker Hughes (NASDAQ:BKRFree Report) in a research note published on Thursday morning, Benzinga reports. They currently have a $39.00 price objective on the stock.

A number of other equities research analysts also recently commented on BKR. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, October 17th. Barclays lowered their price target on Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an outperform rating to a peer perform rating in a research report on Monday, January 29th. Finally, TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $40.44.

View Our Latest Stock Report on Baker Hughes

Baker Hughes Stock Performance

NASDAQ BKR opened at $28.99 on Thursday. The stock has a 50-day moving average of $32.35 and a 200 day moving average of $34.23. Baker Hughes has a twelve month low of $26.12 and a twelve month high of $37.58. The stock has a market capitalization of $29.17 billion, a price-to-earnings ratio of 15.18 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Sell-side analysts anticipate that Baker Hughes will post 2.12 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th will be paid a $0.21 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, February 12th. Baker Hughes’s dividend payout ratio is currently 41.88%.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new position in shares of Baker Hughes during the second quarter valued at $27,000. Jefferies Financial Group Inc. purchased a new position in Baker Hughes during the 4th quarter valued at about $27,000. Hall Laurie J Trustee purchased a new position in Baker Hughes in the third quarter valued at about $28,000. Allworth Financial LP grew its stake in Baker Hughes by 133.8% during the 2nd quarter. Allworth Financial LP now owns 1,017 shares of the company’s stock worth $32,000 after buying an additional 582 shares during the last quarter. Finally, Miller Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 6,306.3% during the second quarter. Miller Wealth Advisors LLC now owns 1,025 shares of the company’s stock valued at $32,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.

About Baker Hughes

(Get Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.

See Also

Analyst Recommendations for Baker Hughes (NASDAQ:BKR)

Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.