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Halliburton (HAL) Beats Stock Market Upswing: What Investors Need to Know
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Halliburton (HAL - Free Report) closed the most recent trading day at $38.69, moving +1.66% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Shares of the provider of drilling services to oil and gas operators witnessed a loss of 7.35% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.46% and the S&P 500's loss of 5.17%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to go public on October 24, 2023. It is anticipated that the company will report an EPS of $0.77, marking a 28.33% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.86 billion, up 9.3% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.03 per share and a revenue of $23.28 billion, demonstrating changes of +40.93% and +14.69%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.33% downward. Halliburton presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 12.55 right now. Its industry sports an average Forward P/E of 18.6, so one might conclude that Halliburton is trading at a discount comparatively.
It's also important to note that HAL currently trades at a PEG ratio of 0.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Field Services industry had an average PEG ratio of 0.7.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 105, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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) Beats Stock Market Upswing: What Investors Need to Know
Halliburton (HAL - Free Report) closed the most recent trading day at $38.69, moving +1.66% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Shares of the provider of drilling services to oil and gas operators witnessed a loss of 7.35% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.46% and the S&P 500's loss of 5.17%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to go public on October 24, 2023. It is anticipated that the company will report an EPS of $0.77, marking a 28.33% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.86 billion, up 9.3% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.03 per share and a revenue of $23.28 billion, demonstrating changes of +40.93% and +14.69%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.33% downward. Halliburton presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 12.55 right now. Its industry sports an average Forward P/E of 18.6, so one might conclude that Halliburton is trading at a discount comparatively.
It's also important to note that HAL currently trades at a PEG ratio of 0.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Field Services industry had an average PEG ratio of 0.7.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 105, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.