United States approves GE, Baker Hughes merger
- Author: Zachary Reyes Jun 16, 2017,
Jun 16, 2017, 15:15
The transaction is expected to be closed by mid-year. Stephens Investment Management Grp Limited Liability Corp invested 0.46% in Baker Hughes Incorporated (NYSE:BHI). Baker Hughes had a negative return on equity of 5.64% and a negative net margin of 27.82%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business posted ($1.58) earnings per share. STO's sales growth for past 5 years was -41.10% and its EPS growth for past 5 years was -15.30%. Analysts have a mean recommendation of 2.20 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock of Baker Hughes Incorporated (NYSE:BHI) has "Hold" rating given on Wednesday, May 31 by Jefferies.
General Electric is talking withÂ Houston-based Baker Hughes about potential partnerships.Neither company would discuss details on Friday, Oct. 28, 2016, but analysts said the option with the biggest potential would be combining GE's oil and gas division with Baker Hughes and spinning out an entirely new company. Gilead Sciences had 65 analyst reports since July 29, 2015 according to SRatingsIntel. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The stock of Baker Hughes Incorporated (NYSE:BHI) has "Sector Perform" rating given on Thursday, April 28 by iBERIA Capital Partners. Price targets frequently change, depending on the outlook for a company's earnings. The company now has an average rating of Hold and an average price target of $62.02. It is flat, as 72 investors sold Baker Hughes Incorporated shares while 205 reduced holdings. only 93 funds opened positions while 194 raised stakes. The stock exchanged hands with 12.21 Million shares as compared to its average daily volume of 10.04 Million shares.
Bristol-Myers Squibb Company (NYSE:BMY) has a market cap of $90.35 billion and over the last 12 months, BMY has declined by -25.18%. The firm has a 50 day moving average of $57.38 and a 200-day moving average of $60.62. Company stock is -11.88% away from its one year high and is moving 37.70% ahead of its one year low.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 19th. Moreover, Punch & Associates Investment Management Inc. has 0.59% invested in the company for 155,245 shares. The dividend yield amounts to 1.57 percent and the beta ratio has a value of 0.97. The ex-dividend date of this dividend was Thursday, May 4th. Harris Associates Lp holds 0.49% in Baker Hughes Incorporated (NYSE:BHI) or 3.89 million shares. Finally, The Manufacturers Life Insurance Company bought a new stake in Baker Hughes during the third quarter worth approximately $21,567,000. Brown Advisory Inc. now owns 5,791 shares of the oilfield services provider's stock valued at $376,000 after buying an additional 53 shares during the period. Highbridge Capital Management LLC boosted its stake in Baker Hughes by 429.2% in the third quarter. TrimTabs Asset Management LLC now owns 2,121 shares of the oilfield services provider's stock valued at $127,000 after buying an additional 1,000 shares in the last quarter. Finally, ARP Americas LLC acquired a new position in shares of Baker Hughes during the fourth quarter worth about $280,000. Hedge funds and other institutional investors own 91.03% of the company's stock.
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Both sides agreed unanimously on the arrangement in October, with the oil and gas unit of GE taking a 62.5 percent stake in Baker Hughes for an entity with combined revenue of $32 billion.