Baker Hughes A GE Co (BHGE) Expected to Post Quarterly Sales of $5.59 Billion

Brokerages expect Baker Hughes A GE Co (NYSE:BHGE) to report $5.59 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Baker Hughes A GE’s earnings, with the lowest sales estimate coming in at $5.43 billion and the highest estimate coming in at $5.72 billion. Baker Hughes A GE reported sales of $5.40 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The business is expected to report its next earnings report on Friday, April 19th.

On average, analysts expect that Baker Hughes A GE will report full-year sales of $24.12 billion for the current year, with estimates ranging from $23.74 billion to $24.53 billion. For the next fiscal year, analysts forecast that the firm will report sales of $26.93 billion, with estimates ranging from $25.10 billion to $28.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Baker Hughes A GE.

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

A number of analysts have commented on BHGE shares. Cowen reaffirmed an “outperform” rating and set a $32.00 target price (down previously from $34.00) on shares of Baker Hughes A GE in a report on Monday, February 4th. Goldman Sachs Group began coverage on shares of Baker Hughes A GE in a research report on Sunday, March 10th. They set a “conviction-buy” rating and a $36.00 price target on the stock. 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 price target on the stock. Barclays reiterated a “buy” rating and set a $32.00 price target on shares of Baker Hughes A GE in a research report on Friday, January 18th. Finally, ValuEngine upgraded shares of Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.88.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHGE. Deutsche Bank AG lifted its position in Baker Hughes A GE by 5.9% during the 4th quarter. Deutsche Bank AG now owns 1,304,751 shares of the company’s stock worth $28,048,000 after buying an additional 72,808 shares in the last quarter. American Century Companies Inc. boosted its position in Baker Hughes A GE by 45.4% in the 4th quarter. American Century Companies Inc. now owns 11,652,657 shares of the company’s stock worth $250,532,000 after purchasing an additional 3,635,694 shares in the last quarter. Norges Bank purchased a new stake in Baker Hughes A GE in the 4th quarter worth approximately $110,806,000. FMR LLC boosted its position in Baker Hughes A GE by 11.7% in the 4th quarter. FMR LLC now owns 36,476,714 shares of the company’s stock worth $784,250,000 after purchasing an additional 3,826,019 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Baker Hughes A GE in the 4th quarter worth approximately $480,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

BHGE stock traded down $0.52 during trading on Friday, hitting $26.47. The company had a trading volume of 5,337,981 shares, compared to its average volume of 4,673,465. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.15. Baker Hughes A GE has a 12 month low of $20.09 and a 12 month high of $37.76. The stock has a market capitalization of $28.85 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 0.55 and a beta of 0.88.

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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Earnings History and Estimates for Baker Hughes A GE (NYSE:BHGE)

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