Baker Hughes, a GE (BHGE) Given New $36.00 Price Target at Bank of America

Baker Hughes, a GE (NYSE:BHGE) had its price objective raised by equities researchers at Bank of America from $33.00 to $36.00 in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Bank of America’s target price suggests a potential upside of 6.64% from the stock’s current price.

BHGE has been the topic of several other research reports. Zacks Investment Research downgraded Baker Hughes, a GE from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. B. Riley reaffirmed a “hold” rating and set a $36.00 price objective on shares of Baker Hughes, a GE in a research note on Monday, January 29th. Jefferies Group set a $31.00 price objective on Baker Hughes, a GE and gave the stock a “hold” rating in a research note on Wednesday, April 4th. Morgan Stanley dropped their price objective on Baker Hughes, a GE from $48.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Finally, Goldman Sachs raised Baker Hughes, a GE from a “sell” rating to a “neutral” rating and set a $33.50 price objective on the stock in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Baker Hughes, a GE presently has an average rating of “Hold” and an average target price of $37.52.

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Shares of NYSE:BHGE traded up $0.95 during midday trading on Wednesday, hitting $33.76. The company had a trading volume of 4,410,284 shares, compared to its average volume of 5,447,389. Baker Hughes, a GE has a 12 month low of $25.53 and a 12 month high of $42.27. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $13,877.59, a P/E ratio of 65.44, a P/E/G ratio of 5.38 and a beta of 0.76.



Baker Hughes, a GE (NYSE:BHGE) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Baker Hughes, a GE had a positive return on equity of 0.10% and a negative net margin of 2.79%. The business had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.60 billion. Baker Hughes, a GE’s quarterly revenue was down 2.7% compared to the same quarter last year. equities research analysts expect that Baker Hughes, a GE will post 0.76 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHGE. Delpha Capital Management LLC acquired a new stake in shares of Baker Hughes, a GE in the fourth quarter valued at about $106,000. MHI Funds LLC acquired a new stake in shares of Baker Hughes, a GE in the fourth quarter valued at about $175,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Baker Hughes, a GE in the fourth quarter valued at about $190,000. Janney Montgomery Scott LLC acquired a new stake in shares of Baker Hughes, a GE in the third quarter valued at about $253,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Baker Hughes, a GE in the fourth quarter valued at about $223,000. 92.24% of the stock is currently owned by hedge funds and other institutional investors.

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Baker Hughes, a GE Company Profile

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.

Analyst Recommendations for Baker Hughes, a GE (NYSE:BHGE)

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