CLSA Cuts Baker Hughes to Underperform (BHI)

By admin | 6 years ago

Baker Hughes (NYSE: BHI) was downgraded by equities researchers at CLSA from an “outperform” rating to an “underperform” rating in a report issued on Tuesday.

Shares of Baker Hughes traded down 2.46% during mid-day trading on Tuesday, hitting $40.44. Baker Hughes has a one year low of $39.40 and a one year high of $81.00. The company has a market cap of $17.732 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.

Other equities research analysts have also recently issued reports about 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.

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.

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