Baker Hughes Rating Lowered to Underperform at CLSA (BHI)
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase (NYSE: JPM) downgraded shares of Baker Hughes from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, May 16th. Separately, analysts at Zacks downgraded shares of Baker Hughes from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, May 1st. They now have a $40.00 price target on the stock. Finally, analysts at Citigroup (NYSE: C) raised their price target on shares of Baker Hughes from $46.00 to $48.00 in a research note to investors on Wednesday, April 25th. They now have a “neutral” rating on the stock.
Shares of Baker Hughes traded down 2.41% during mid-day trading on Tuesday, hitting $40.46. Baker Hughes has a 52 week low of $39.40 and a 52 week high of $81.00. The company has a market cap of $17.741 billion and a P/E ratio of 10.47.
Baker Hughes last announced its earnings results on Tuesday, April 24th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $0.93 earnings per share next quarter.
Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. Baker Hughes is a supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry.