Baker Hughes A GE (NYSE:BHGE) Receives New Coverage from Analysts at Bank of America

Bank of America initiated coverage on shares of Baker Hughes A GE (NYSE:BHGE) in a report released on Wednesday, October 17th, Marketbeat.com reports. The firm issued a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays restated a buy rating and issued a $35.00 target price on shares of Baker Hughes A GE in a report on Thursday, October 11th. Wolfe Research began coverage on shares of Baker Hughes A GE in a report on Wednesday, October 10th. They issued an outperform rating for the company. Jefferies Financial Group upgraded shares of Baker Hughes A GE from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Tuesday, October 9th. HSBC decreased their price objective on shares of Baker Hughes A GE to $40.00 and set a buy rating for the company in a research note on Monday, October 8th. Finally, B. Riley set a $42.00 price objective on shares of Baker Hughes A GE and gave the stock a buy rating in a research note on Sunday, October 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $36.79.

Shares of NYSE BHGE traded down $1.24 during midday trading on Wednesday, hitting $25.51. The company had a trading volume of 8,250,516 shares, compared to its average volume of 4,289,263. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 5.29 and a beta of 0.84. Baker Hughes A GE has a twelve month low of $25.35 and a twelve month high of $37.76.

Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Equities research analysts expect that Baker Hughes A GE will post 0.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a $0.18 dividend. The ex-dividend date is Thursday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.82%. Baker Hughes A GE’s dividend payout ratio is presently 138.46%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group acquired a new stake in Baker Hughes A GE in the 2nd quarter valued at about $125,000. Rational Advisors LLC acquired a new stake in Baker Hughes A GE in the 1st quarter valued at about $139,000. Gofen & Glossberg LLC IL acquired a new stake in Baker Hughes A GE in the 3rd quarter valued at about $203,000. Indiana Trust & Investment Management CO acquired a new stake in Baker Hughes A GE in the 2nd quarter valued at about $205,000. Finally, Rathbone Brothers plc acquired a new stake in Baker Hughes A GE in the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Baker Hughes A GE Company Profile

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers 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 integrated oil and natural gas, and oilfield service companies.

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Analyst Recommendations for Baker Hughes A GE (NYSE:BHGE)

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