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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 $30.89, marking a -1.22% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 3.13% over the past month, outpacing the Oils-Energy sector's gain of 0.78% and lagging the S&P 500's gain of 4.66% in that time.
Halliburton will be looking to display strength as it nears its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Halliburton to post earnings of $0.75 per share. This would mark year-over-year growth of 53.06%. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 billion, up 15.2% from the prior-year quarter.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.13 per share and revenue of $23.82 billion. These results would represent year-over-year changes of +45.58% and +17.38%, respectively.
Investors should also note any recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Halliburton is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 10.01 right now. For comparison, its industry has an average Forward P/E of 12.9, which means Halliburton is trading at a discount to the group.
It is also worth noting that HAL currently has a PEG ratio of 0.4. 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 was holding an average PEG ratio of 0.63 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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 $30.89, marking a -1.22% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 3.13% over the past month, outpacing the Oils-Energy sector's gain of 0.78% and lagging the S&P 500's gain of 4.66% in that time.
Halliburton will be looking to display strength as it nears its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Halliburton to post earnings of $0.75 per share. This would mark year-over-year growth of 53.06%. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 billion, up 15.2% from the prior-year quarter.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.13 per share and revenue of $23.82 billion. These results would represent year-over-year changes of +45.58% and +17.38%, respectively.
Investors should also note any recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Halliburton is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 10.01 right now. For comparison, its industry has an average Forward P/E of 12.9, which means Halliburton is trading at a discount to the group.
It is also worth noting that HAL currently has a PEG ratio of 0.4. 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 was holding an average PEG ratio of 0.63 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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.