Published: Fri, October 20, 2017
Finance | By Loren Pratt

Baker Hughes posts loss in first report after GE acquisition (GE)

Baker Hughes posts loss in first report after GE acquisition (GE)

The dividend was $0.170 per share for the quarter or $0.68 annualized.

Excluding items, the company earned 5 cents per share, far lower than analysts average estimate of 11 cents, according to Thomson Reuters I/B/E/S. They issued a "hold" rating and a $36.00 price target on the stock. 2,302,004 shares of the company were exchanged. It did not give a comparable year-ago number in its first report to include GE Co's oil and gas business. Public Employees Retirement System of Ohio's holdings in Baker Hughes A GE were worth $10,362,000 at the end of the most recent quarter. Following the completion of the sale, the senior vice president now directly owns 21,160 shares of the company's stock, valued at $1,121,480. Over the last three months, insiders have acquired 13,901 shares of company stock valued at $476,796. Panagora Asset Management Inc. raised its stake in Baker Hughes by 109.6% in the third quarter. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Baker Hughes A GE in a research report on Monday, July 3rd. HSBC Holdings plc restated a "hold" rating and issued a $58.00 price target (down previously from $60.00) on shares of Baker Hughes A GE in a research report on Thursday, June 22nd. Morgan Stanley started coverage on Baker Hughes A GE in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. The stock presently has an average rating of "Hold" and an average price target of $61.46.


General Electric Co (N:) on Friday reported a 14.4 percent rise in revenue, aided by the acquisition of oilfield services provider Baker Hughes (N:), but profit fell in the quarter. Panagora Asset Management Inc. now owns 523,960 shares of the oilfield services provider's stock valued at $26,444,000 after buying an additional 274,018 shares in the last quarter. The Company's products and services include upstream, midstream, downstream, industrial and digital. Hedge funds and other institutional investors own 91.32% of the company's stock.

Like this: