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Baker Hughes (BKR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest market close, Baker Hughes (BKR - Free Report) reached $29.48, with a -0.81% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq lost 0.55%.
Shares of the oilfield services company witnessed a gain of 1.3% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.63% and the S&P 500's gain of 3.98%.
Market participants will be closely following the financial results of Baker Hughes in its upcoming release. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 42.86% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.32 billion, indicating a 10.55% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.03 per share and a revenue of $27.54 billion, representing changes of +26.88% and +7.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Baker Hughes. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 4.2% fall in the Zacks Consensus EPS estimate. 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 14.63. This signifies a premium in comparison to the average Forward P/E of 13.9 for its industry.
We can also see that BKR currently has a PEG ratio of 0.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. BKR's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Baker Hughes (BKR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, Baker Hughes (BKR - Free Report) reached $29.48, with a -0.81% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq lost 0.55%.
Shares of the oilfield services company witnessed a gain of 1.3% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.63% and the S&P 500's gain of 3.98%.
Market participants will be closely following the financial results of Baker Hughes in its upcoming release. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 42.86% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.32 billion, indicating a 10.55% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.03 per share and a revenue of $27.54 billion, representing changes of +26.88% and +7.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Baker Hughes. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 4.2% fall in the Zacks Consensus EPS estimate. 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 14.63. This signifies a premium in comparison to the average Forward P/E of 13.9 for its industry.
We can also see that BKR currently has a PEG ratio of 0.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. BKR's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.