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Baker Hughes (BKR) Gains As Market Dips: What You Should Know
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Baker Hughes (BKR - Free Report) closed at $37.07 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oilfield services company had gained 3.43% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
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 $0.39 per share, which would represent year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $6.51 billion, up 21.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $25.47 billion, which would represent changes of +71.91% and +20.39%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Baker Hughes. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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).
Digging into valuation, Baker Hughes currently has a Forward P/E ratio of 24.09. Its industry sports an average Forward P/E of 19.1, 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 66, putting it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Baker Hughes (BKR) Gains As Market Dips: What You Should Know
Baker Hughes (BKR - Free Report) closed at $37.07 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oilfield services company had gained 3.43% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
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 $0.39 per share, which would represent year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $6.51 billion, up 21.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $25.47 billion, which would represent changes of +71.91% and +20.39%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Baker Hughes. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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).
Digging into valuation, Baker Hughes currently has a Forward P/E ratio of 24.09. Its industry sports an average Forward P/E of 19.1, 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 66, putting it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.