Market Update (NYSE:BHI): US files lawsuit to block merger of Halliburton and Baker Hughes

[Reuters] – The U.S. Justice Department said on Wednesday that it filed a lawsuit aimed at stopping Halliburton from merging with Baker Hughes, a deal that would combine the No. 2 and No. 3 oil services companies. … Read more on this. Baker Hughes Incorporated (BHI) , valued at $18.04B, opened this morning at $39.00. During the trading session, BHI traded between $38.77 to $42.55 with a one year range of $37.58 to $70.45. Baker Hughes (BHI) shares are currently priced at -38.97x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 0.04x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $0.68 per share annually in dividends, yielding 1.58%. In a review of the consensus earnings estimate this quarter, 31 sell-side analysts are looking at $-0.28 per share, which would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-1.01, which would be a $0.53 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.93 Billion. If reported, that would be a 36.17% decrease over the year-ago quarter. More recently, DA Davidson Initiated BHI at Buy (Feb 19, 2016). Previously, Morgan Stanley downgraded BHI from Overweight to Equal-Weight. With the above information in mind, readers should note that the average price target is $57.65, which is 47.82% above where the stock opened this morning. See more in (NYSE:BHI) Similar Articles: Stock Update: Baker Hughes Incorporated (NYSE:BHI) – U.S. Justice Dept will sue to stop Halliburton, Baker Hughes merger – source Market Update (NYSE:BHI): EU regulators to decide on Halliburton, Baker Hughes deal by July 11 Company Update: Baker Hughes Incorporated (NYSE:BHI) – EU opens probe into Halliburton’s planned purchase of Baker Hughes