Brokerages Anticipate Baker Hughes A GE Co (BHGE) Will Post Quarterly Sales of $6.10 Billion

Brokerages expect that Baker Hughes A GE Co (NYSE:BHGE) will post $6.10 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Baker Hughes A GE’s earnings. The highest sales estimate is $6.39 billion and the lowest is $5.84 billion. Baker Hughes A GE posted sales of $5.76 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 23rd.

According to Zacks, analysts expect that Baker Hughes A GE will report full year sales of $22.71 billion for the current year, with estimates ranging from $22.45 billion to $23.01 billion. For the next financial year, analysts forecast that the firm will report sales of $24.89 billion, with estimates ranging from $24.31 billion to $26.09 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Baker Hughes A GE.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS.

Several analysts have recently weighed in on the company. Wells Fargo & Co decreased their target price on Baker Hughes A GE from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. B. Riley reissued a “buy” rating on shares of Baker Hughes A GE in a report on Monday, September 10th. Bank of America assumed coverage on shares of Baker Hughes A GE in a report on Wednesday, October 17th. They issued a “buy” rating for the company. Guggenheim raised shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a report on Wednesday, October 31st. Finally, Barclays reissued a “buy” rating and issued a $35.00 price target on shares of Baker Hughes A GE in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $36.36.

In other Baker Hughes A GE news, Director Electric Co General sold 101,200,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $22.47, for a total value of $2,273,964,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC increased its position in shares of Baker Hughes A GE by 12.2% during the second quarter. Aperio Group LLC now owns 330,836 shares of the company’s stock worth $10,928,000 after purchasing an additional 36,008 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Baker Hughes A GE by 14.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 30,697 shares of the company’s stock worth $1,013,000 after acquiring an additional 3,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Baker Hughes A GE by 8.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,277,503 shares of the company’s stock worth $42,196,000 after acquiring an additional 104,218 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Baker Hughes A GE by 3.1% in the second quarter. New York State Teachers Retirement System now owns 673,997 shares of the company’s stock worth $22,262,000 after acquiring an additional 20,018 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Baker Hughes A GE by 7.5% in the second quarter. Assetmark Inc. now owns 158,358 shares of the company’s stock worth $5,231,000 after acquiring an additional 11,112 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

NYSE:BHGE traded up $0.19 during mid-day trading on Wednesday, hitting $21.66. 5,081,164 shares of the stock traded hands, compared to its average volume of 11,652,368. The stock has a market cap of $8.85 billion, a P/E ratio of 41.65, a P/E/G ratio of 4.18 and a beta of 0.82. Baker Hughes A GE has a 12-month low of $21.05 and a 12-month high of $37.76. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.32%. The ex-dividend date was Thursday, November 15th. Baker Hughes A GE’s dividend payout ratio (DPR) is currently 138.46%.

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.

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