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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Halliburton (HAL - Free Report) closed at $40.19, marking a -1.01% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 5.1% over the past month. This has lagged the Oils-Energy sector's gain of 5.16% and outpaced the S&P 500's gain of 2.18% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be January 24, 2023. In that report, analysts expect Halliburton to post earnings of $0.67 per share. This would mark year-over-year growth of 86.11%. Our most recent consensus estimate is calling for quarterly revenue of $5.58 billion, up 30.45% from the year-ago period.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Halliburton currently has a Forward P/E ratio of 13.44. Its industry sports an average Forward P/E of 13.28, so we one might conclude that Halliburton is trading at a premium comparatively.
Investors should also note that HAL has a PEG ratio of 0.31 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.37 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Halliburton (HAL - Free Report) closed at $40.19, marking a -1.01% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 5.1% over the past month. This has lagged the Oils-Energy sector's gain of 5.16% and outpaced the S&P 500's gain of 2.18% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be January 24, 2023. In that report, analysts expect Halliburton to post earnings of $0.67 per share. This would mark year-over-year growth of 86.11%. Our most recent consensus estimate is calling for quarterly revenue of $5.58 billion, up 30.45% from the year-ago period.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Halliburton currently has a Forward P/E ratio of 13.44. Its industry sports an average Forward P/E of 13.28, so we one might conclude that Halliburton is trading at a premium comparatively.
Investors should also note that HAL has a PEG ratio of 0.31 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.37 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.