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Halliburton (HAL) Suffers a Larger Drop Than the General Market: Key Insights
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The latest trading session saw Halliburton (HAL - Free Report) ending at $38.39, denoting a -0.18% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
The provider of drilling services to oil and gas operators's shares have seen an increase of 8.95% over the last month, surpassing the Oils-Energy sector's gain of 4.9% and the S&P 500's gain of 5.34%.
The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is predicted to post an EPS of $0.74, indicating a 2.78% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.68 billion, indicating a 0.1% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.43 per share and revenue of $24.32 billion. These totals would mark changes of +9.58% and +5.67%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 11.23. This valuation marks a discount compared to its industry's average Forward P/E of 16.88.
We can additionally observe that HAL currently boasts a PEG ratio of 0.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 37% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Halliburton (HAL) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Halliburton (HAL - Free Report) ending at $38.39, denoting a -0.18% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
The provider of drilling services to oil and gas operators's shares have seen an increase of 8.95% over the last month, surpassing the Oils-Energy sector's gain of 4.9% and the S&P 500's gain of 5.34%.
The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is predicted to post an EPS of $0.74, indicating a 2.78% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.68 billion, indicating a 0.1% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.43 per share and revenue of $24.32 billion. These totals would mark changes of +9.58% and +5.67%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 11.23. This valuation marks a discount compared to its industry's average Forward P/E of 16.88.
We can additionally observe that HAL currently boasts a PEG ratio of 0.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 37% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.