Brokerages Expect Baker Hughes, a GE company (BHGE) Will Post Quarterly Sales of $5.55 Billion

Equities research analysts expect Baker Hughes, a GE company (NYSE:BHGE) to announce $5.55 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Baker Hughes, a GE’s earnings, with estimates ranging from $5.50 billion to $5.62 billion. Baker Hughes, a GE reported sales of $2.40 billion during the same quarter last year, which would suggest a positive year over year growth rate of 131.3%. The company is expected to issue its next earnings report on Friday, July 27th.

According to Zacks, analysts expect that Baker Hughes, a GE will report full-year sales of $22.85 billion for the current financial year, with estimates ranging from $22.33 billion to $23.60 billion. For the next year, analysts expect that the company will post sales of $24.88 billion per share, with estimates ranging from $22.92 billion to $26.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Baker Hughes, a GE.

Baker Hughes, a GE (NYSE:BHGE) last released its quarterly earnings data on Friday, April 20th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. Baker Hughes, a GE had a positive return on equity of 0.25% and a negative net margin of 1.28%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the previous year, the company posted ($0.23) EPS. The company’s revenue was up 1.4% compared to the same quarter last year.

A number of equities analysts have recently commented on BHGE shares. JPMorgan Chase dropped their target price on Baker Hughes, a GE from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Barclays dropped their target price on Baker Hughes, a GE from $41.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Morgan Stanley dropped their target price on Baker Hughes, a GE from $48.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. BMO Capital Markets dropped their target price on Baker Hughes, a GE from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Finally, Jefferies Group set a $31.00 target price on Baker Hughes, a GE and gave the stock a “hold” rating in a report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the stock. Baker Hughes, a GE has an average rating of “Hold” and a consensus price target of $37.69.

In related news, insider William D. Marsh sold 6,543 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $35.82, for a total transaction of $234,370.26. Following the completion of the transaction, the insider now owns 22,663 shares in the company, valued at approximately $811,788.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria C. Borras sold 19,571 shares of the business’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $36.97, for a total value of $723,539.87. Following the transaction, the chief executive officer now owns 3,042 shares of the company’s stock, valued at approximately $112,462.74. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the business. Rational Advisors LLC purchased a new stake in shares of Baker Hughes, a GE in the 1st quarter worth $139,000. CIBC World Markets Inc. purchased a new stake in shares of Baker Hughes, a GE in the 1st quarter worth $1,275,000. Xact Kapitalforvaltning AB lifted its holdings in shares of Baker Hughes, a GE by 11.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 43,616 shares of the company’s stock worth $1,211,000 after buying an additional 4,555 shares during the period. Assetmark Inc. lifted its holdings in shares of Baker Hughes, a GE by 5,021.6% in the 1st quarter. Assetmark Inc. now owns 147,246 shares of the company’s stock worth $4,089,000 after buying an additional 144,371 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Baker Hughes, a GE by 47.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 29,169 shares of the company’s stock worth $810,000 after buying an additional 9,367 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

NYSE:BHGE traded down $0.77 during trading hours on Wednesday, reaching $35.87. The stock had a trading volume of 3,681,501 shares, compared to its average volume of 3,929,142. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.05 and a quick ratio of 1.48. Baker Hughes, a GE has a 52 week low of $25.53 and a 52 week high of $40.82. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 68.98, a PEG ratio of 5.61 and a beta of 0.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 22nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, May 21st. Baker Hughes, a GE’s payout ratio is currently 101.92%.

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 for onshore and offshore operations.

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

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