Baker Hughes (BKR) Outpaces Stock Market Gains: What You Should Know
Baker Hughes (BKR) closed the latest trading day at $32.51, indicating a +0.84% change from the previous session's end. This change outpaced the S&P 500's 0.39% gain on the day. Elsewhere, the Dow saw an upswing of 0.43%, while the tech-heavy Nasdaq appreciated by 0.2%.
Shares of the oilfield services company witnessed a loss of 6.12% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.39% and the S&P 500's gain of 5.28%.
The investment community will be closely monitoring the performance of Baker Hughes in its forthcoming earnings report. On that day, Baker Hughes is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 23.68%. Alongside, our most recent consensus estimate is anticipating revenue of $6.92 billion, indicating a 17.24% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.57 per share and a revenue of $25.59 billion, representing changes of +76.4% and +20.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Baker Hughes. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained steady. Right now, Baker Hughes possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Baker Hughes is presently trading at a Forward P/E ratio of 20.58. This indicates a premium in contrast to its industry's Forward P/E of 16.42.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Baker Hughes Company (BKR) : Free Stock Analysis Report
