Jefferies Financial Group upgraded shares of Baker Hughes A GE (NYSE:BHGE) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has $38.00 price objective on the stock. Jefferies Financial Group also issued estimates for Baker Hughes A GE’s Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.32 EPS, FY2018 earnings at $0.72 EPS, Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.55 EPS, FY2019 earnings at $1.45 EPS, FY2020 earnings at $2.15 EPS, FY2021 earnings at $3.00 EPS and FY2022 earnings at $3.90 EPS.

A number of other equities research analysts have also issued reports on BHGE. B. Riley set a $42.00 price target on shares of Baker Hughes A GE and gave the stock a buy rating in a report on Sunday, October 7th. Piper Jaffray Companies reissued a buy rating and issued a $38.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Seaport Global Securities reissued a hold rating and issued a $32.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Citigroup raised their price target on shares of Baker Hughes A GE from $40.00 to $43.00 and gave the stock a buy rating in a report on Monday, June 25th. Finally, Zacks Investment Research lowered shares of Baker Hughes A GE from a hold rating to a sell rating in a report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $37.57.

Shares of Baker Hughes A GE stock opened at $30.85 on Tuesday. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 59.33, a PEG ratio of 5.84 and a beta of 0.70. Baker Hughes A GE has a 12-month low of $25.53 and a 12-month high of $37.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.90.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Friday, July 20th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.57 billion. Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. Baker Hughes A GE’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. Research analysts expect that Baker Hughes A GE will post 0.72 earnings per share for the current fiscal year.

In other news, VP Kurt Camilleri sold 2,513 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthias L. Heilmann sold 12,000 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $408,000.00. Following the sale, the insider now directly owns 3,743 shares in the company, valued at approximately $127,262. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Baker Hughes A GE by 9.4% during the first quarter. Russell Investments Group Ltd. now owns 139,890 shares of the company’s stock worth $3,890,000 after acquiring an additional 11,965 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Baker Hughes A GE by 299.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 57,234 shares of the company’s stock worth $1,589,000 after acquiring an additional 42,890 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Baker Hughes A GE by 10.2% during the first quarter. Principal Financial Group Inc. now owns 872,651 shares of the company’s stock worth $24,233,000 after acquiring an additional 80,744 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Baker Hughes A GE by 6.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 62,794 shares of the company’s stock worth $1,743,000 after acquiring an additional 4,014 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Baker Hughes A GE by 22.2% during the first quarter. Commonwealth Equity Services LLC now owns 16,206 shares of the company’s stock worth $450,000 after acquiring an additional 2,940 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

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 for onshore and offshore operations.

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Analyst Recommendations for Baker Hughes A GE (NYSE:BHGE)

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