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Baker Hughes (BKR) closed the most recent trading day at $37.49, moving -0.45% from the previous trading session. This change was narrower than the S&P 500's 1.08% loss on the day. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the oilfield services company had gained 22.19% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
Baker Hughes will be looking to display strength as it nears its next earnings release. On that day, Baker Hughes is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 130%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.39 billion, up 4.87% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.17 per share and revenue of $22.18 billion. These totals would mark changes of +85.71% and +8.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Baker Hughes. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Baker Hughes currently has a Zacks Rank of #3 (Hold).
Investors should also note Baker Hughes's current valuation metrics, including its Forward P/E ratio of 32.27. For comparison, its industry has an average Forward P/E of 28.42, which means Baker Hughes is trading at a premium to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
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