Baker Hughes released its latest quarterly earnings last month on 26th. This oilfield services provider beat the analysts’ consensus of $0.11 EPS (earnings per share) by a margin of $0.19 to declare the EPS of $0.30. The reported revenue for the quarter was $2.40 billion as against the expected $2.36 billion as per the analysts.
Predictions are made for the 2017 and also 2018 earnings for the company. A number of institutional investors are either modifying or have already modified their holdings in the company. Similarly, the process of changing ratings from hold to buy or vice versa is in process. Like for instance, Zacks Investment Research has upgraded its rating for Baker Hughes from hold to buy giving a price target of $59.00. While Zacks Investment Research gave this price target on October 14th, Argus maintained its buy rating with $65.00 as target price in a report released on November 1st.
If we take into account all major analysts reactions then so far there are sixteen who are bullish on the stock with one being strongly bullish against only one that is bearish. Eighteen analysts have maintained the neutral grounds and issued the hold rating for the stock of the company that deals in oilfield services. It supplies technology and products that are needed in oil and natural gas industry across the globe. Apart from oil-related businesses, the company also deals with industrial products and services in downstream chemicals.
If we see the average target price of the stock of Baker Hughes as per the consensus it comes to somewhere around $59.28. For the fiscal year 2018, the mean of Baker Hughes annual sales estimates as identified by two analysts is given $3335.2, whereas $3335.2 as the median of sales forecasts. The highest value of the yearly prediction is $3570.4, while the lowest lies at $3100. The annual sales standard deviation is estimated at $332.623. It is also announced that the investors of record on February 6th will be issued a $0.17 dividend, which will be paid to them on February 17th.
The Director of the company, Gregory D. Brenneman has also purchased 85,000 shares as per the reports released by the company on November 14th at an average price of $58.84 per share. So, now he has shares worth $5,261,767 with him. The vice president, on the other hand, sold 15,000 shares at $58.09 on November 9th, bringing his total holding value to $4,459,453.12. As of the latest quarter reports, the company insiders now hold 0.60% of the total stocks.