Baker Hughes A GE (NYSE:BHGE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Baker Hughes A GE (NYSE:BHGE) posted its earnings results on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01, Briefing.com reports. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was up 8.0% compared to the same quarter last year.

BHGE traded down $1.19 during trading on Friday, hitting $24.08. 5,043,223 shares of the company traded hands, compared to its average volume of 4,274,593. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 3.23 and a beta of 0.91. The firm’s fifty day moving average price is $24.36. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. Baker Hughes A GE has a one year low of $20.09 and a one year high of $35.55.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.99%. Baker Hughes A GE’s payout ratio is currently 109.09%.

BHGE has been the subject of several recent analyst reports. Credit Suisse Group upped their target price on shares of Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Co reduced their target price on shares of Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. TheStreet upgraded shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a research note on Thursday, June 20th. Finally, Royal Bank of Canada reduced their target price on shares of Baker Hughes A GE to $33.00 and set an “average” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.44.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Baker Hughes A GE by 8.8% during the first quarter. BlackRock Inc. now owns 38,089,819 shares of the company’s stock valued at $1,055,851,000 after buying an additional 3,079,874 shares during the period. The Manufacturers Life Insurance Company grew its position in Baker Hughes A GE by 24.4% during the first quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock valued at $325,427,000 after buying an additional 2,301,773 shares during the period. Pzena Investment Management LLC lifted its holdings in Baker Hughes A GE by 14.1% during the second quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock valued at $155,639,000 after purchasing an additional 778,490 shares during the last quarter. Northern Trust Corp lifted its holdings in Baker Hughes A GE by 9.1% during the first quarter. Northern Trust Corp now owns 6,139,410 shares of the company’s stock valued at $170,185,000 after purchasing an additional 510,503 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Baker Hughes A GE by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock valued at $129,283,000 after purchasing an additional 1,432,685 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

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

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