Published: Sat, October 21, 2017
Money | By Armando Alvarado

The Jefferies Group Increases Baker Hughes Inc. (BHI) Price Target to $57.00

The Jefferies Group Increases Baker Hughes Inc. (BHI) Price Target to $57.00

Finally, Fairpointe Capital LLC bought a new stake in Baker Hughes, a GE company Class A in the 2nd quarter valued at about $229,000. Baker Hughes, A GE Company shares are now trading down about 1.8% on the day. These holdings make up 14.59% of the company's outstanding shares.

Analysts at USA financial services firm Cowen & Co's capital expenditure tracking was unchanged this week, showing the 64 E&Ps it tracks planned to increase spending by an average of 49 percent in 2017 from 2016.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last issued its quarterly earnings data on Friday, October 20th.

In terms of earnings per share, 23 analysts have a 0.18 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 17 analysts have a 0.21 EPS mean target and for the quarter ending Mar-18 there are 9 estimates of 0.42 EPS.

The oilfield services company posted revenue of $5.38 billion in the period, also missing Street forecasts.

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BHI has been the subject of a number of analyst reports. Argus started coverage on shares of Baker Hughes, a GE company Class A in a report on Sunday, August 27th. They set a buy rating and a $48.00 price target on the stock.

In related news, CFO Brian Worrell acquired 2,801 shares of the stock in a transaction dated Wednesday, August 2nd.

Receive Baker Hughes, a GE company News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes, a GE company with MarketBeat.com's FREE daily email newsletter. Zacks Investment Research raised shares of Baker Hughes, a GE company Class A from a "hold" rating to a "buy" rating and set a $42.00 price objective for the company in a report on Monday, July 10th. On September 25 analysts at Bank of America started covering the stock with an initial rating of "Underperform". The stock presently has an average rating of "Hold" and an average price target of $61.46.

On a per-share basis, the Houston-based company said it had a loss of 24 cents. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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