Baker Hughes Co (NASDAQ:BKR) shares, rose in value on Friday, April 05, with the stock price up by 0.57% to the previous day’s close as strong demand from buyers drove the stock to $34.11.
Actively observing the price movement in the recent trading, the stock is buoying the session at $33.92. The value of beta (5-year monthly) is 1.40 whereas the PE ratio is 17.82 over 12-month period. Referring to stock’s 52-week performance, its high was $37.58, and the low was $26.81. On the whole, BKR has fluctuated by 11.62% over the past month.
With the market capitalization of Baker Hughes Co currently standing at about $34.14 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 23, 2024. The company’s Forward Dividend Ratio is 0.80, with its dividend yield at 2.35%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.4, which is expected to increase to $0.51 for fiscal year $2.02 and then to about $2.52 by fiscal year 2025. Data indicates that the EPS growth is expected to be 26.20% in 2025, while the next year’s EPS growth is forecast to be 24.80%.
Analysts have estimated the company’s revenue for the quarter at $6.37 billion, with a low estimate of $6.14 billion and a high estimate of $6.54 billion. According to the average forecast, sales growth in current quarter could jump up 11.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $27.53 billion, representing an increase of 7.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BKR’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.59, with the price of BKR currently trading nearly 4.32% and 10.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.85, while the 7-day volatility ratio is showing 1.51% which for the 30-day chart, stands at 1.74%. Furthermore, Baker Hughes Co (BKR)’s beta value is 1.44, and its average true range (ATR) is 0.58.
A comparison of Baker Hughes Co (BKR) with its peers suggests the former has fared considerably weaker in the market. BKR showed an intraday change of 0.57% in today’s session so far, and over the past year, it grew by 16.62%%.
Data on historical trading for Baker Hughes Co (NASDAQ:BKR) indicates that the trading volumes over the past 10 days have averaged 8.16 million and over the past 3 months, they’ve averaged 9.55 million. According to company’s latest data on outstanding shares, there are 1.00 billion shares outstanding.
Nearly 0.17% of Baker Hughes Co’s shares belong to company insiders and institutional investors own 93.46% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 24.77 million shares as on Mar 15, 2024, resulting in a short ratio of 2.81. According to the data, the short interest in Baker Hughes Co (BKR) stood at 2.48% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 21.1 million. The stock has fallen by -0.20% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BKR stock heading into the next quarter.
