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Baker Hughes (BKR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Baker Hughes (BKR - Free Report) closed at $30.97, marking a +1.44% move from the previous day. This change outpaced the S&P 500's 1.15% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Prior to today's trading, shares of the oilfield services company had gained 9.47% over the past month. This has outpaced the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Investors will be hoping for strength from Baker Hughes as it approaches its next earnings release, which is expected to be July 19, 2023. On that day, Baker Hughes is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 200%. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, up 23.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.50 per share and revenue of $25.36 billion. These totals would mark changes of +68.54% and +19.88%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Baker Hughes. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Baker Hughes is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Baker Hughes currently has a Forward P/E ratio of 20.4. This represents a premium compared to its industry's average Forward P/E of 13.66.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 12% 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.
To follow BKR in the coming trading sessions, be sure to utilize Zacks.com.
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Baker Hughes (BKR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Baker Hughes (BKR - Free Report) closed at $30.97, marking a +1.44% move from the previous day. This change outpaced the S&P 500's 1.15% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Prior to today's trading, shares of the oilfield services company had gained 9.47% over the past month. This has outpaced the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Investors will be hoping for strength from Baker Hughes as it approaches its next earnings release, which is expected to be July 19, 2023. On that day, Baker Hughes is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 200%. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, up 23.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.50 per share and revenue of $25.36 billion. These totals would mark changes of +68.54% and +19.88%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Baker Hughes. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Baker Hughes is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Baker Hughes currently has a Forward P/E ratio of 20.4. This represents a premium compared to its industry's average Forward P/E of 13.66.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 12% 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.
To follow BKR in the coming trading sessions, be sure to utilize Zacks.com.