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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
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Halliburton (HAL - Free Report) closed the most recent trading day at $31.16, moving -1.52% from the previous trading session. This move lagged the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the provider of drilling services to oil and gas operators had gained 5.89% in the past month. In that same time, the Oils-Energy sector gained 1.56%, while the S&P 500 gained 4.14%.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. On that day, Halliburton is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 53.06%. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 15.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $23.83 billion. These totals would mark changes of +45.58% and +17.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.45% higher. Halliburton is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 10.1. This valuation marks a discount compared to its industry's average Forward P/E of 14.08.
Also, we should mention that HAL has a PEG ratio of 0.4. 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. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.65 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
Halliburton (HAL - Free Report) closed the most recent trading day at $31.16, moving -1.52% from the previous trading session. This move lagged the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the provider of drilling services to oil and gas operators had gained 5.89% in the past month. In that same time, the Oils-Energy sector gained 1.56%, while the S&P 500 gained 4.14%.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. On that day, Halliburton is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 53.06%. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 15.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $23.83 billion. These totals would mark changes of +45.58% and +17.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.45% higher. Halliburton is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 10.1. This valuation marks a discount compared to its industry's average Forward P/E of 14.08.
Also, we should mention that HAL has a PEG ratio of 0.4. 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. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.65 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.