Technical and Fundamental Insights on Baker Hughes Inc (NYSE:BHI)

Baker Hughes Inc (NYSE:BHI) (Trend Analysis) shares were traded with thin volume. The stock closed last trading session at $45.23, up by 2.21%, with a volume of 3,852,543 shares against an average amount for the last three months of 4,416,360.

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Baker Hughes Inc (NYSE:BHI) stock is currently trading 33.21% below its 52-week-high, 20.36% above its 52-week-low. The 1-year stock price history is in the range of $37.58 – $67.72. Baker Hughes Inc (BHI) has a price to book ratio of 1.19 versus Basic Materials sector average of 2.75. BHI stock price has underperformed the S&P 500 by 4.4%. The Oil Field Services company is currently valued at $19.86 billion, and its share price closed the last trading session at $45.23. The stock has a 50-day moving average of $44.48 and a 200-day moving average of $45.78.

Baker Hughes Inc (BHI) current short interest stands at 5.24 million shares. It has decreased by 2% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 6.04 million shares, the number of days required to cover the short positions stand at 0.9 day.

BHI is forecasted to report earnings per share of $-0.47 and a revenue of $2.45 billion for the 2nd Quarter of the fiscal year 2016. Baker Hughes Inc (BHI) declared last quarter earnings on April 27. The Oil Field Services company announced last quarter earnings per share of ($0.44) against a consensus Street estimate of ($0.33), missing estimate by $0.11. The company posted a revenue of $2.67 billion compared to an estimation of $2.85 billion.

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There are currently thirty-six analysts that cover Baker Hughes Inc stock. Of those thirty-six, twenty-two have a Buy rating, twelve have a Hold rating and two have a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $50.32.

A recent analyst activity consisted of Goldman Sachs who resumed their coverage on the stock with Neutral rating on May 9. Goldman Sachs fixed their price target at $47.5. This corresponds to a 5.02% upside from the last closing price. On the date of report, the stock closed at $44.25.

Deutsche Bank reiterated their Hold stance on May 2, and decreased their price target from $44 to $40. This corresponds to a 11.56% downside from the last closing price. On the date of report, the stock closed at $47.4.

Another research firm was Stephens & Co. who downgraded their Overweight rating to Equal-weight on April 28. On the date of report, the stock closed at $47.86.

Company snapshot

Baker Hughes Incorporated supplies reservoir-centered products, services, and systems to the worldwide oil and gas industry. The Company provides products and services for oil and gas exploration, drilling, completion, and production. Baker Hughes also manufactures and markets a variety of roller cutter bits and fixed cutter diamond bits.

Technical and Fundamental Insights on Baker Hughes Inc (NYSE:BHI) was last modified: May 11th, 2016 by Donna Crepeau