Baker Hughes (BKR) closed the most recent trading day at $25.26, moving +0.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.78%. At the same time, the Dow lost 0.88%, and the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the oilfield services company had lost 1.46% over the past month, lagging the Oils-Energy sector's gain of 2.79% and outpacing the S&P 500's loss of 3.4% in that time.
Wall Street will be looking for positivity from Baker Hughes as it approaches its next earnings report date. In that report, analysts expect Baker Hughes to post earnings of $0.25 per share. This would mark year-over-year growth of 56.25%. Meanwhile, our latest consensus estimate is calling for revenue of $5.52 billion, up 8.47% from the prior-year quarter.
BKR's full-year Zacks Consensus Estimates are calling for earnings of $0.91 per share and revenue of $21.71 billion. These results would represent year-over-year changes of +44.44% and +5.73%, respectively.
It is also important to note the recent changes to analyst estimates for Baker Hughes. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.27% lower. Baker Hughes is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Baker Hughes's current valuation metrics, including its Forward P/E ratio of 27.44. This represents a premium compared to its industry's average Forward P/E of 18.77.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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