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Wednesday, December 2, 2020

Baker Hughes Company (NYSE:BKR) is Gaining Momentum on Earnings Catalyst

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Baker Hughes Company (BKR) shares are trading at higher $15.91 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $20.68.

To add more color to this target, the company’s high over the last year is $25.99 and the low is $9.12. Over the last 52 weeks, BKR is down -23.80% while the S&P 500 is up 20.39%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BKR reported a profit of $678.0 million. Baker Hughes Company also saw revenues increase to $4.74 billion. In addition, BKR has free cash flow of $106.0 million as of 06-2020. The company’s EBITDA came in at $287.0 million which compares well with its peers.

BKR booked profit margins of -46.00%, its Return on Equity (ROE) is -39.60%, and its Return on Assets is -22.80%. All told, it is clear that, BKR needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BKR has a short ratio of 3.97 and outstanding shares of 655.00M.

Company Outlook

BKR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 4.52 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -15.76. Baker Hughes Company BKR also noted assets of $37.52 billion at the end of the last quarter. Investors should also keep an eye on sector updates as BKR has historically followed its peers on positive news.

All told, Baker Hughes Company BKR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BKR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Baker Hughes Company BKR is now commanding a market cap of 16.75B and a float of 654.94M. BKR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BKR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BKR, either long or short, and we have not been compensated for this article.

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