Baker Hughes Company (BKR) 2020 Stock Forecast: Bullish Outlook with 45.08% Upside

Baker Hughes Company (NYSE: BKR) is -44.28% lower on its value in year-to-date trading and has touched a low of $9.12 and a high of $25.99 in the current 52-week trading range. The BKR stock was last observed hovering at around $14.80 in the last trading session, with the day’s loss setting it -0.52% off its average median price target of $20.00 for the next 12 months. It is also 45.08% off the consensus price target high of $26.00 offered by 29 analysts, but current levels are 18.4% higher than the price target low of $17.50 for the same period.

Currently trading at $14.28, the stock is -12.13% and -9.50% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.49 million and changing -3.51% at the moment leaves the stock -18.94% off its SMA200. BKR registered -34.16% loss for a year compared to 6-month loss of -13.61%. The firm has a 50-day simple moving average (SMA 50) of $16.05 and a 200-day simple moving average (SMA200) of $15.09.

The stock witnessed a -7.81% gain in the last 1 month and extending the period to 3 months gives it a -16.54%, and is -10.25% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.78% over the week and 3.61% over the month.

Baker Hughes Company (BKR) has around 60000 employees, a market worth around $14.69B and $22.39B in sales. Fwd P/E is 31.11. Profit margin for the company is -46.00%. Distance from 52-week low is 56.58% and -45.06% from its 52-week high. The company has generated returns on investments over the last 12 months (1.40%).

Baker Hughes Company (BKR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Baker Hughes Company (BKR) is a “Buy”. 29 analysts offering their recommendations for the stock have an average rating of 1.90, where 5 rate it as a Hold and 3 think it is a “Overweight”. 21 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Baker Hughes Company is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $4.78B over the same period.The EPS is expected to grow by 12.00% this year, but quarterly earnings will post -15.90% year-over-year. Quarterly sales are estimated to shrink -18.70% in year-over-year returns.

Baker Hughes Company (BKR) Top Institutional Holders

753 institutions hold shares in Baker Hughes Company (BKR), with 1.31M shares held by insiders accounting for 0.20% while institutional investors hold 95.53% of the company’s shares. The shares outstanding are 655.00M, and float is at 654.94M with Short Float at 5.33%. Institutions hold 95.34% of the Float.

The top institutional shareholder in the company is General Electric Company with over 377.43 million shares valued at $5.81 billion. The investor’s holdings represent 57.51% of the BKR Shares outstanding. As of Jun 29, 2020, the second largest holder is Dodge & Cox Inc with 90.32 million shares valued at $1.39 billion to account for 13.76% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 77.48 million shares representing 11.81% and valued at over $1.19 billion, while Capital World Investors holds 9.59% of the shares totaling 62.91 million with a market value of $968.26 million.

Baker Hughes Company (BKR) Insider Activity

A total of 19 insider transactions have happened at Baker Hughes Company (BKR) in the last six months, with sales accounting for 8 and purchases happening 11 times. The most recent transaction is an insider purchase by Beattie William G, the company’s Director. SEC filings show that Beattie William G bought 5,000 shares of the company’s common stock on Feb 26 at a price of $17.80 per share for a total of $88994.0. Following the purchase, the insider now owns 17466.0 shares.

Baker Hughes Company disclosed in a document filed with the SEC on Feb 26 that Worrell Brian (Chief Financial Officer) bought a total of 3,000 shares of the company’s common stock. The trade occurred on Feb 26 and was made at $18.05 per share for $54151.0. Following the transaction, the insider now directly holds 66876.0 shares of the BKR stock.

Still, SEC filings show that on Feb 26, Simonelli Lorenzo (Chairman, President and CEO) acquired 11,254 shares at an average price of $17.74 for $0.2 million. The insider now directly holds 179,100 shares of Baker Hughes Company (BKR).

Baker Hughes Company (BKR): Who are the competitors?

The company’s main competitors (and peers) include Flotek Industries Inc. (FTK) that is trading 9.57% up over the past 12 months. Oil States International Inc. (OIS) is -68.17% down on the 1-year trading charts. Short interest in the company’s stock has risen 30.98% from the last report on Jul 14, 2020 to stand at a total of 24.08 million short shares sold with a short interest ratio of 5.52.