Baker Hughes Incorporated (BHI) reported quarterly earnings results on Wednesday, Apr-27-2016. The company reported $-1.58 earnings per share for the quarter, missing the analyst consensus estimate by $-1.25. Analysts had a consensus of $-0.33. The company posted revenue of $2670.00 million in the period, compared to analysts expectations of $2829.83 million. The company’s revenue was down -41.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.
Many Wall Street Analysts have commented on Baker Hughes Incorporated. Baker Hughes Incorporated was Initiated by Nomura to “Neutral” on Apr 8, 2016. Baker Hughes Incorporated was Downgraded by Jefferies to ” Underperform” on Apr 8, 2016. Shares were Downgraded by Deutsche Bank on Apr 6, 2016 to ” Hold” and Lowered the Price Target to $ 43 from a previous price target of $78 .
Baker Hughes Incorporated closed down -0.26 points or -0.56% at $46.43 with 44,87,779 shares getting traded on Friday. Post opening the session at $47.11, the shares hit an intraday low of $45.7 and an intraday high of $48.16 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Nov 25, 2015, Richard D Ward (Vice President) sold 1,440 shares at $51.47 per share price. According to the SEC, on Oct 26, 2015, Arthur L Soucy (Vice President) sold 26,676 shares at $55.72 per share price. On Jul 23, 2015, Khalid M Nouh (Vice President) sold 16,937 shares at $60.69 per share price, according to the Form-4 filing with the securities and exchange commission.
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services products technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals and process and pipeline services. It conducts its operations through subsidiaries affiliates ventures and alliances. The Company has four geographical operating segments: North America Latin America Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Company also has an Industrial Services segment which includes the downstream chemicals business and the process and pipeline services business. The Companys Integrated Operations is focused on the execution of projects that have attributes such as project management well site supervision well construction intervention third-party contractor management procurement and rig management.