Trading Report: The Seaport Global Securities Equities Analysts Increase Earnings Estimates for Baker Hughes Inc. (BHI)

The Seaport Global Securities Equities Analysts Increase Earnings Estimates for Baker Hughes Inc. (BHI)

Baker Hughes Inc. (NYSE:BHI) – Equities research analysts at Seaport Global Securities increased their Q3 2017 EPS estimates for Baker Hughes in a research note issued to investors on Wednesday. Seaport Global Securities analyst K. Sill now forecasts that the firm will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.08. Seaport Global Securities also issued estimates for Baker Hughes’ Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.59 EPS.

Several other equities research analysts also recently weighed in on BHI. Citigroup Inc. reissued a “buy” rating on shares of Baker Hughes in a report on Saturday, June 25th. Vetr raised Baker Hughes from a “buy” rating to a “strong-buy” rating and set a $51.07 price objective for the company in a report on Monday, June 27th. Credit Suisse Group AG reissued a “buy” rating on shares of Baker Hughes in a report on Tuesday, June 28th. Jefferies Group raised Baker Hughes from an “underperform” rating to a “hold” rating and increased their price objective for the company from $38.00 to $41.00 in a report on Monday, July 11th. Finally, GMP Securities downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $53.24.

Shares of Baker Hughes (NYSE:BHI) traded up 0.57% on Thursday, reaching $52.50. 2,593,900 shares of the company’s stock traded hands. The firm’s market capitalization is $22.46 billion. Baker Hughes has a 52 week low of $37.58 and a 52 week high of $56.81. The firm’s 50 day moving average is $50.18 and its 200 day moving average is $46.91.

Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $0.31. The company earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. Baker Hughes had a negative return on equity of 4.46% and a negative net margin of 25.14%. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) earnings per share.

In other news, SVP Alan R. Crain, Jr. sold 25,999 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $50.93, for a total transaction of $1,324,129.07. Following the sale, the senior vice president now directly owns 24,160 shares of the company’s stock, valued at $1,230,468.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $53.00, for a total value of $159,000.00. Following the sale, the senior vice president now directly owns 21,160 shares in the company, valued at $1,121,480. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. ValueAct Holdings L.P. raised its stake in shares of Baker Hughes by 67.3% in the second quarter. ValueAct Holdings L.P. now owns 38,886,200 shares of the oilfield services provider’s stock worth $1,754,934,000 after buying an additional 15,639,500 shares during the period. FMR LLC raised its stake in shares of Baker Hughes by 21.0% in the second quarter. FMR LLC now owns 27,713,563 shares of the oilfield services provider’s stock worth $1,250,713,000 after buying an additional 4,812,667 shares during the period. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 1.5% in the second quarter. Vanguard Group Inc. now owns 27,592,238 shares of the oilfield services provider’s stock worth $1,245,237,000 after buying an additional 404,395 shares during the period. State Street Corp raised its stake in shares of Baker Hughes by 5.8% in the first quarter. State Street Corp now owns 21,955,686 shares of the oilfield services provider’s stock worth $962,312,000 after buying an additional 1,206,147 shares during the period. Finally, Capital World Investors raised its stake in shares of Baker Hughes by 11.4% in the second quarter. Capital World Investors now owns 8,998,989 shares of the oilfield services provider’s stock worth $406,124,000 after buying an additional 921,073 shares during the period. 89.30% of the stock is currently owned by institutional investors.

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