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Halliburton (HAL) Dips More Than Broader Market: What You Should Know
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Halliburton (HAL - Free Report) closed the latest trading day at $38.06, indicating a -0.55% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.13%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the provider of drilling services to oil and gas operators had lost 6.38% over the past month, lagging the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53% in that time.
Market participants will be closely following the financial results of Halliburton in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company is forecasted to report an EPS of $0.77, showcasing a 28.33% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.86 billion, reflecting a 9.3% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.03 per share and a revenue of $23.28 billion, indicating changes of +40.93% and +14.69%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 0.33% lower. Halliburton currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Halliburton is currently being traded at a Forward P/E ratio of 12.62. This expresses a discount compared to the average Forward P/E of 18.4 of its industry.
One should further note that HAL currently holds a PEG ratio of 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 0.71.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Halliburton (HAL) Dips More Than Broader Market: What You Should Know
Halliburton (HAL - Free Report) closed the latest trading day at $38.06, indicating a -0.55% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.13%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the provider of drilling services to oil and gas operators had lost 6.38% over the past month, lagging the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53% in that time.
Market participants will be closely following the financial results of Halliburton in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company is forecasted to report an EPS of $0.77, showcasing a 28.33% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.86 billion, reflecting a 9.3% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.03 per share and a revenue of $23.28 billion, indicating changes of +40.93% and +14.69%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 0.33% lower. Halliburton currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Halliburton is currently being traded at a Forward P/E ratio of 12.62. This expresses a discount compared to the average Forward P/E of 18.4 of its industry.
One should further note that HAL currently holds a PEG ratio of 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 0.71.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.