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Halliburton (HAL) Increases Despite Market Slip: Here's What You Need to Know
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Halliburton (HAL - Free Report) closed the latest trading day at $43.13, indicating a +0.21% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.34%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Coming into today, shares of the provider of drilling services to oil and gas operators had gained 3.89% in the past month. In that same time, the Oils-Energy sector gained 0.46%, while the S&P 500 lost 1.57%.
Investors will be eagerly watching for the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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. Simultaneously, our latest consensus estimate expects the revenue to be $5.84 billion, showing a 9.02% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.03 per share and a revenue of $23.24 billion, indicating changes of +40.93% and +14.51%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 14.22. This indicates a discount in contrast to its industry's Forward P/E of 20.24.
One should further note that HAL currently holds a PEG ratio of 0.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HAL's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 40, finds itself in the top 16% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Increases Despite Market Slip: Here's What You Need to Know
Halliburton (HAL - Free Report) closed the latest trading day at $43.13, indicating a +0.21% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.34%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Coming into today, shares of the provider of drilling services to oil and gas operators had gained 3.89% in the past month. In that same time, the Oils-Energy sector gained 0.46%, while the S&P 500 lost 1.57%.
Investors will be eagerly watching for the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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. Simultaneously, our latest consensus estimate expects the revenue to be $5.84 billion, showing a 9.02% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.03 per share and a revenue of $23.24 billion, indicating changes of +40.93% and +14.51%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 14.22. This indicates a discount in contrast to its industry's Forward P/E of 20.24.
One should further note that HAL currently holds a PEG ratio of 0.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HAL's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 40, finds itself in the top 16% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.