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(HAL) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Halliburton (HAL - Free Report) ending at $41.73, denoting a +0.22% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
The provider of drilling services to oil and gas operators's shares have seen a decrease of 0.62% over the last month, surpassing the Oils-Energy sector's loss of 1.37% and the S&P 500's loss of 2.35%.
The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company is expected to report EPS of $0.77, up 28.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 9.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.03 per share and revenue of $23.28 billion. These totals would mark changes of +40.93% and +14.7%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. As of now, Halliburton holds a Zacks Rank of #3 (Hold).
With respect to valuation, Halliburton is currently being traded at a Forward P/E ratio of 13.73. Its industry sports an average Forward P/E of 19.76, so one might conclude that Halliburton is trading at a discount comparatively.
It is also worth noting that HAL currently has a PEG ratio of 0.69. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Field Services was holding an average PEG ratio of 0.74 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 43% of over 250 industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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(HAL) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Halliburton (HAL - Free Report) ending at $41.73, denoting a +0.22% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
The provider of drilling services to oil and gas operators's shares have seen a decrease of 0.62% over the last month, surpassing the Oils-Energy sector's loss of 1.37% and the S&P 500's loss of 2.35%.
The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company is expected to report EPS of $0.77, up 28.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 9.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.03 per share and revenue of $23.28 billion. These totals would mark changes of +40.93% and +14.7%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. As of now, Halliburton holds a Zacks Rank of #3 (Hold).
With respect to valuation, Halliburton is currently being traded at a Forward P/E ratio of 13.73. Its industry sports an average Forward P/E of 19.76, so one might conclude that Halliburton is trading at a discount comparatively.
It is also worth noting that HAL currently has a PEG ratio of 0.69. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Field Services was holding an average PEG ratio of 0.74 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 43% of over 250 industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.