Baker Hughes (NYSE:BKR) Cut to Strong Sell at Zacks Investment Research

Baker Hughes (NYSE:BKR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, Zacks.com reports.

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According to Zacks, “Baker Hughes, a GE Company is a provider of integrated oilfield products, services and digital solutions. Baker Hughes a GE Company, formerly known as Baker Hughes, is based in Houston, United States. “

Other analysts have also recently issued research reports about the stock. TheStreet cut shares of Baker Hughes from a “c-” rating to a “d” rating in a research note on Monday, October 21st. Barclays reissued a “buy” rating and issued a $28.00 price objective on shares of Baker Hughes in a research note on Friday, November 1st.

Shares of NYSE BKR traded up $0.17 during midday trading on Friday, reaching $22.25. 2,890,075 shares of the company were exchanged, compared to its average volume of 5,267,808. The stock has a market cap of $22.73 billion, a PE ratio of 33.71, a PEG ratio of 3.07 and a beta of 0.98. Baker Hughes has a one year low of $20.09 and a one year high of $28.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.58.

Baker Hughes (NYSE:BKR) last posted its earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $6.11 billion. Baker Hughes had a return on equity of 1.19% and a net margin of 0.89%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. As a group, sell-side analysts predict that Baker Hughes will post 0.89 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC bought a new stake in shares of Baker Hughes in the third quarter worth $32,000. Advisory Services Network LLC bought a new stake in shares of Baker Hughes in the third quarter worth $40,000. Huntington National Bank bought a new stake in shares of Baker Hughes in the third quarter worth $109,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Baker Hughes in the third quarter worth $132,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Baker Hughes in the third quarter worth $165,000. 48.40% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

Baker Hughes 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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