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Company Update (NYSE:BHI): Halliburton-Baker Hughes deal faces delay again, EU wants more info

[Reuters] – Oilfield services provider Halliburton Co’s plan to acquire smaller rival Baker Hughes faces more delay after European Union antitrust regulators halted their investigation into the $35 billion deal for the second time. The European Commission said the companies have yet to provide an important piece of information. “Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly,” Commission spokesman Ricardo Cardoso said in an email. Read more on this. Baker Hughes Incorporated (BHI) , valued at $20.53B, opened this morning at $47.13. Looking at today’s market, BHI one day range is $46.45 to $47.59 and has traded between $37.58 and $70.45 over the past year. BHI shares are currently priced at -71.88x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -1.43x forward p/e ratio. The company pays shareholders $0.68 per share annually in dividends, yielding 1.45%. According to a consensus of 31 analysts, the earnings estimate of $-0.20 per share would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $-0.66 would be a $0.18 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.97 Billion. If realized, that would be a 35.29% 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 $57.58, which is 22.17% 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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