Baker Hughes A GE Co (BHGE) Expected to Announce Quarterly Sales of $5.62 Billion

Analysts forecast that Baker Hughes A GE Co (NYSE:BHGE) will report $5.62 billion in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Baker Hughes A GE’s earnings. The highest sales estimate is $5.72 billion and the lowest is $5.51 billion. Baker Hughes A GE posted sales of $5.40 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that Baker Hughes A GE will report full year sales of $24.13 billion for the current financial year, with estimates ranging from $23.82 billion to $24.77 billion. For the next year, analysts anticipate that the firm will post sales of $26.88 billion, with estimates ranging from $25.45 billion to $28.71 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Baker Hughes A GE.

Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Thursday, January 31st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.04 billion. Baker Hughes A GE had a return on equity of 0.76% and a net margin of 0.85%. During the same period in the prior year, the company posted $0.15 EPS.

BHGE has been the subject of several recent analyst reports. Barclays reaffirmed a “buy” rating and issued a $32.00 target price on shares of Baker Hughes A GE in a report on Friday, January 18th. Credit Suisse Group restated an “outperform” rating and set a $23.57 target price (down from $28.00) on shares of Baker Hughes A GE in a research report on Friday, February 1st. Cowen restated an “outperform” rating and set a $32.00 target price (down from $34.00) on shares of Baker Hughes A GE in a research report on Monday, February 4th. ValuEngine upgraded shares of Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, Societe Generale began coverage on shares of Baker Hughes A GE in a research report on Wednesday, February 27th. They set a “buy” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.20.

In related news, insider William D. Marsh sold 1,242 shares of the stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $23.31, for a total value of $28,951.02. Following the sale, the insider now directly owns 35,257 shares of the company’s stock, valued at approximately $821,840.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Baker Hughes A GE during the fourth quarter valued at approximately $35,000. Bremer Trust National Association bought a new position in shares of Baker Hughes A GE during the fourth quarter valued at approximately $36,000. Lindbrook Capital LLC boosted its stake in shares of Baker Hughes A GE by 91.6% during the first quarter. Lindbrook Capital LLC now owns 1,726 shares of the company’s stock valued at $47,000 after purchasing an additional 825 shares in the last quarter. JOYN Advisors Inc. boosted its stake in shares of Baker Hughes A GE by 271.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,929 shares of the company’s stock valued at $41,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Baker Hughes A GE by 130.1% during the fourth quarter. Advisory Services Network LLC now owns 2,103 shares of the company’s stock valued at $45,000 after purchasing an additional 1,189 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes A GE stock traded down $0.17 during mid-day trading on Friday, hitting $25.80. The stock had a trading volume of 1,824,008 shares, compared to its average volume of 4,571,337. The company has a market capitalization of $27.78 billion, a P/E ratio of 39.09, a P/E/G ratio of 0.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.66. Baker Hughes A GE has a one year low of $20.09 and a one year high of $37.76.

About Baker Hughes A GE

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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