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Market Update (NYSE:BHI): EU regulators to decide on Halliburton, Baker Hughes deal by July 11

[Reuters] – European Union antitrust enforcers have resumed their investigation into U.S. oilfield services provider Halliburton Co’s proposed takeover of Baker Hughes and will decide by July 11 whether to approve the $35 billion deal. The European Commission, which halted the investigation on Feb. 18, said it had received further information from both companies. “Once we received the information from the parties, we restarted the clock and set a new deadline,” Commission spokesman Ricardo Cardoso said. Read more on this. Baker Hughes Incorporated (BHI) , currently valued at $19.53B, opened at $46.25. During today’s session, BHI traded between $44.49 to $46.46 with a trailing 52-week range being $37.58 to $70.45. BHI shares are currently priced at -77.63x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 2.97x 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 1.47%. Consensus earnings for the current quarter by the 31 sell-side analysts covering the stock is an estimate of $-0.19 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 $-0.60 which would be a $0.12 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.01 Billion. If reported, that would be a 34.42% 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. The average price target for BHI shares is $57.54, which is 24.41% above where the stock opened this morning. See more in (NYSE:BHI) Similar Articles: Company Update: Baker Hughes Incorporated (NYSE:BHI) – EU opens probe into Halliburton’s planned purchase of Baker Hughes Stock Update (NYSE:BHI): U.S. not satisfied with Halliburton-Baker Hughes deal plan -Bloomberg Stock Update: Baker Hughes Incorporated (NYSE:BHI) – Halliburton, Baker Hughes plan more divestitures for deal approval
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