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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
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Halliburton (HAL - Free Report) closed at $35.71 in the latest trading session, marking a -1.9% move from the prior day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 8.63% in the past month. In that same time, the Oils-Energy sector lost 4.75%, while the S&P 500 gained 0.84%.
Halliburton will be looking to display strength as it nears its next earnings release. On that day, Halliburton is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 91.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.36% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.08 per share and revenue of $23.55 billion. These results would represent year-over-year changes of +43.26% and +16.03%, respectively.
Investors might also notice recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.99% higher within the past month. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 11.81. This valuation marks a discount compared to its industry's average Forward P/E of 13.08.
Also, we should mention that HAL has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.46 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 48, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
Halliburton (HAL - Free Report) closed at $35.71 in the latest trading session, marking a -1.9% move from the prior day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 8.63% in the past month. In that same time, the Oils-Energy sector lost 4.75%, while the S&P 500 gained 0.84%.
Halliburton will be looking to display strength as it nears its next earnings release. On that day, Halliburton is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 91.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.36% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.08 per share and revenue of $23.55 billion. These results would represent year-over-year changes of +43.26% and +16.03%, respectively.
Investors might also notice recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.99% higher within the past month. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 11.81. This valuation marks a discount compared to its industry's average Forward P/E of 13.08.
Also, we should mention that HAL has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.46 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 48, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.