Baker Hughes Incorporated (BHI) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $-0.90 earnings per share for the quarter, missing the analyst consensus estimate by $-0.29. Analysts had a consensus of $-0.61. The company posted revenue of $2408.00 million in the period, compared to analysts expectations of $2319.69 million. The company’s revenue was down -39.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.
Many Wall Street Analysts have commented on Baker Hughes Incorporated. Company shares were Upgraded by Jefferies on Jul 11, 2016 to ” Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $38 .Baker Hughes Incorporated was Resumed by Goldman to “Neutral” on May 9, 2016. Shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold” and Lowered the Price Target to $ 40 from a previous price target of $44 .
Baker Hughes Incorporated opened for trading at $45.38 and hit $46.68 on the upside on Thursday, eventually ending the session at $46.05, with a gain of 3.41% or 1.52 points. The heightened volatility saw the trading volume jump to 57,65,500 shares. Company has a market cap of $20,166 M.
In a different news, on Jun 7, 2016, William D Marsh (VP, General Counsel) sold 1,500 shares at $49.10 per share price. According to the SEC, on Jun 7, 2016, Khalid M Nouh (Vice President) sold 17,000 shares at $46.15 per share price. On May 25, 2016, Alan R Jr Crain (SVP, Chief Legal/Gov Ofcr) sold 20,000 shares at $44.80 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.