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Baker Hughes (BKR) Dips More Than Broader Markets: What You Should Know

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Baker Hughes (BKR) closed the most recent trading day at $26.34, moving -1.57% from the previous trading session. This change lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.28%.

Prior to today's trading, shares of the oilfield services company had lost 15.69% over the past month. This has lagged the Oils-Energy sector's loss of 13.93% and the S&P 500's gain of 1.51% in that time.

Baker Hughes will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2022. On that day, Baker Hughes is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 120%. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 4.51% from the year-ago period.

BKR's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $22.14 billion. These results would represent year-over-year changes of +82.54% and +7.83%, respectively.

It is also important to note the recent changes to analyst estimates for Baker Hughes. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.46% lower within the past month. Baker Hughes is currently a Zacks Rank #3 (Hold).

Digging into valuation, Baker Hughes currently has a Forward P/E ratio of 23.27. Its industry sports an average Forward P/E of 19.2, so we one might conclude that Baker Hughes is trading at a premium comparatively.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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