Baker Hughes Inc. (NYSE:BHI) – Stock analysts at Seaport Global Securities lifted their Q3 2016 EPS estimates for Baker Hughes in a note issued to investors on Wednesday. Seaport Global Securities analyst K. Sill now forecasts that the brokerage will earn ($0.39) per share for the quarter, up from their prior estimate of ($0.54). Seaport Global Securities also issued estimates for Baker Hughes’ Q4 2016 earnings at ($0.29) EPS, FY2016 earnings at ($2.03) EPS, Q1 2017 earnings at ($0.20) EPS, Q2 2017 earnings at ($0.05) EPS, Q4 2017 earnings at $0.17 EPS and FY2017 earnings at $0.01 EPS.
Baker Hughes (NYSE:BHI) last released its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative return on equity of 4.46% and a negative net margin of 25.14%. The business earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company posted ($0.14) EPS. The company’s revenue for the quarter was down 39.3% compared to the same quarter last year.
A number of other research firms have also issued reports on BHI. Citigroup Inc. raised their target price on Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets reissued a “buy” rating and set a $50.00 price objective on shares of Baker Hughes in a report on Friday, July 29th. Deutsche Bank AG lifted their price objective on Baker Hughes from $38.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, August 1st. GMP Securities lowered Baker Hughes from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Jefferies Group lifted their price objective on Baker Hughes from $41.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.42.
Baker Hughes (NYSE:BHI) opened at 51.75 on Friday. The stock has a 50 day moving average price of $50.21 and a 200 day moving average price of $47.01. Baker Hughes has a 1-year low of $37.58 and a 1-year high of $56.17. The company’s market cap is $22.14 billion.
In related news, SVP Alan R. Crain, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $53.00, for a total transaction of $159,000.00. Following the sale, the senior vice president now owns 21,160 shares in the company, valued at $1,121,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alan R. Crain, Jr. sold 7,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $47.01, for a total value of $329,070.00. Following the sale, the senior vice president now owns 51,385 shares in the company, valued at approximately $2,415,608.85. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in Baker Hughes by 859.6% in the second quarter. MCF Advisors LLC now owns 2,399 shares of the oilfield services provider’s stock valued at $108,000 after buying an additional 2,149 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in Baker Hughes by 14.5% in the first quarter. Citizens Financial Group Inc RI now owns 2,837 shares of the oilfield services provider’s stock valued at $125,000 after buying an additional 360 shares during the last quarter. Partners Capital Investment Group LLC bought a new stake in Baker Hughes during the second quarter valued at about $144,000. Cypress Capital Management LLC WY bought a new stake in Baker Hughes during the second quarter valued at about $168,000. Finally, LVM Capital Management Ltd. MI bought a new stake in Baker Hughes during the third quarter valued at about $201,000. Institutional investors and hedge funds own 89.30% of the company’s stock.
Baker Hughes Company Profile