Baker Hughes Incorporated (BHI) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 59

Baker Hughes Incorporated (BHI) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 59 from a previous price target of $50 . RBC Capital Mkts advised their investors in a research report released on Oct 10, 2016.

Many Wall Street Analysts have commented on Baker Hughes Incorporated. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Hold”, Firm has raised the Price Target to $ 52 from a previous price target of $38 .Company shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $49 .

On the company’s financial health, Baker Hughes Incorporated reported $-0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.61. The company had revenue of $2408.00 million for the quarter, 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.

Baker Hughes Incorporated opened for trading at $52.61 and hit $53.39 on the upside on Friday, eventually ending the session at $52.84, with a gain of 1.05% or 0.55 points. The heightened volatility saw the trading volume jump to 47,19,466 shares. Company has a market cap of $22,610 M.

In a different news, on Aug 22, 2016, Alan J Keifer (Vice President and Controller) sold 17,434 shares at $52.70 per share price. According to the SEC, on Aug 17, 2016, Alan R Jr Crain (SVP, Chief Legal/Gov Ofcr) sold 25,999 shares at $50.93 per share price. On Jun 7, 2016, William D Marsh (VP, General Counsel) sold 1,500 shares at $49.10 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 Company’s 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.

Baker Hughes Incorporated

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