Baker Hughes Incorporated (NYSE:BHI), based in Houston, moved down to record low in over 6 months after profit in the recent quarter tumbled 605 on lowered North American demand for hydraulic fracturing.
Shares of Baker Hughes, the world’s third-biggest oilfield-services provider, plunged 4.9% to settle in New York at $44.75 and marked the record low level since March 21.
Baker Hughes reported in a statement that net income in the third-quarter plunged to $279 million or 63 cents per share, from $706 million or $1.61 per share in previous year.
The company missed by 10 cents the median of 30 analysts’ forecasts gathered by Bloomberg without charges linked with developing software and closing a manufacturing facility.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Newpark Resources, Inc. (NYSE:NR) fell -7.82% to settle at $6.72, Tesco Corporation (USA) (NASDAQ:TESO) moved down -1.89% to end at $9.86 while National-Oilwell Varco, Inc. (NYSE:NOV) plunged -1.62% to finish at $80.70 on Friday.
Baker Hughes Incorporated (NYSE:BHI) on Oct 19, 2012 decreased -4.98% to the closing price of $44.75. The overall volume in the last trading session was 11.21 million shares. Its fifty two weeks range was $37.08 – $61.90. The total market capitalization remained at $19.67 billion.
BHI is ahead of its 52-week low with 21.06% and lagging behind from its 52-week high price with -26.80%. BHI’s last month’s stock price volatility remained 2.40%. In its share capital BHI has 439.56 million outstanding shares, among them 438.19 million shares have been floated in market exchange. BHI’s stock’s institutional ownership remained 92.36% while insider ownership included 0.36%.
The stock price of BHI is moving down from its 20 days moving average with -1.05% and remote negatively from 50 days moving average with -3.71%. BHI’s current year’s earnings per share experienced an addition with 93.14% while its current quarter performance remained at -2.68%. Company’s beta coefficient included1.56. Beta factors measure the amount of market risk associated with market trade.
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