Baker Hughes, a GE company Class A (BHGE) Earns Outperform Rating from Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Baker Hughes, a GE company Class A (NASDAQ:BHGE) in a report issued on Wednesday morning. Cowen and Company currently has a $50.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Group LLC restated a hold rating and set a $40.00 target price on shares of Baker Hughes, a GE company Class A in a research note on Sunday, September 10th. Zacks Investment Research cut Baker Hughes, a GE company Class A from a hold rating to a sell rating in a research note on Tuesday, September 5th. Barclays PLC began coverage on Baker Hughes, a GE company Class A in a research note on Thursday, August 31st. They set an overweight rating and a $41.00 target price for the company. Argus began coverage on shares of Baker Hughes, a GE company Class A in a report on Sunday, August 27th. They set a buy rating for the company. Finally, Royal Bank Of Canada set a $55.00 price target on shares of Baker Hughes, a GE company Class A and gave the stock a buy rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Baker Hughes, a GE company Class A currently has a consensus rating of Hold and an average price target of $45.55.

Baker Hughes, a GE company Class A (NASDAQ BHGE) traded up 1.43% during midday trading on Wednesday, hitting $36.90. The stock had a trading volume of 8,293,145 shares. The stock’s market cap is $15.79 billion. The company has a 50-day moving average of $34.57 and a 200-day moving average of $49.47. Baker Hughes, a GE company Class A has a 1-year low of $32.43 and a 1-year high of $68.59.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last released its earnings results on Friday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.27). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the firm earned ($0.90) EPS. Baker Hughes, a GE company Class A’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that Baker Hughes, a GE company Class A will post $0.44 EPS for the current year.

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The business also recently declared a monthly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.53%.

In related news, CFO Brian Worrell purchased 2,801 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $35.24 per share, for a total transaction of $98,707.24. Following the completion of the acquisition, the chief financial officer now owns 2,801 shares of the company’s stock, valued at $98,707.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John G. Rice purchased 5,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $35.37 per share, with a total value of $176,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $176,850. The disclosure for this purchase can be found here. Insiders have bought 13,901 shares of company stock valued at $476,796 over the last quarter.

Several large investors have recently made changes to their positions in the company. M&R Capital Management Inc. acquired a new position in shares of Baker Hughes, a GE company Class A during the second quarter worth $141,000. Fairpointe Capital LLC acquired a new position in shares of Baker Hughes, a GE company Class A during the second quarter worth $229,000. FTB Advisors Inc. acquired a new position in shares of Baker Hughes, a GE company Class A during the second quarter worth $442,000. Tudor Investment Corp ET AL acquired a new position in shares of Baker Hughes, a GE company Class A during the second quarter worth $959,000. Finally, New Mexico Educational Retirement Board acquired a new position in shares of Baker Hughes, a GE company Class A during the second quarter worth $1,461,000.

Analyst Recommendations for Baker Hughes, a GE company Class A (NASDAQ:BHGE)

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