Baker Hughes (BKR) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Baker Hughes (BKR) reached $33.82, with a -0.44% movement compared to the previous day. This change lagged the S&P 500's 0.1% gain on the day. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, added 0.29%.
The the stock of oilfield services company has fallen by 2.83% in the past month, lagging the Oils-Energy sector's gain of 0.6% and the S&P 500's gain of 10.68%.
The upcoming earnings release of Baker Hughes will be of great interest to investors. The company's upcoming EPS is projected at $0.47, signifying a 23.68% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.92 billion, up 17.24% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.57 per share and revenue of $25.59 billion, indicating changes of +76.4% and +20.98%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Baker Hughes. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% higher. Baker Hughes is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Baker Hughes is presently being traded at a Forward P/E ratio of 21.69. This valuation marks a premium compared to its industry's average Forward P/E of 17.28.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Baker Hughes Company (BKR) : Free Stock Analysis Report
