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Halliburton (HAL) Outpaces Stock Market Gains: What You Should Know
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Halliburton (HAL - Free Report) closed at $37.92 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 14.74% over the past month. This has outpaced the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% 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. The company is expected to report EPS of $0.75, up 53.06% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.85 billion, up 15.27% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.10 per share and revenue of $23.69 billion. These results would represent year-over-year changes of +44.19% and +16.72%, respectively.
It is also important to note the recent changes to analyst estimates for Halliburton. 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.
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.
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 0.96% lower. Halliburton is currently a Zacks Rank #4 (Sell).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 12.12. This valuation marks a discount compared to its industry's average Forward P/E of 17.04.
Also, we should mention that HAL has a PEG ratio of 0.48. 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 0.75 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
Halliburton (HAL - Free Report) closed at $37.92 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 14.74% over the past month. This has outpaced the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% 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. The company is expected to report EPS of $0.75, up 53.06% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.85 billion, up 15.27% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.10 per share and revenue of $23.69 billion. These results would represent year-over-year changes of +44.19% and +16.72%, respectively.
It is also important to note the recent changes to analyst estimates for Halliburton. 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.
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.
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 0.96% lower. Halliburton is currently a Zacks Rank #4 (Sell).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 12.12. This valuation marks a discount compared to its industry's average Forward P/E of 17.04.
Also, we should mention that HAL has a PEG ratio of 0.48. 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 0.75 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.