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Halliburton (HAL) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Halliburton (HAL - Free Report) closed at $41.24, marking a +1.45% move from the previous day. The stock's change was more than the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 12.32% over the past month. This has outpaced the Oils-Energy sector's gain of 10.33% and the S&P 500's gain of 0.48% in that time.
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 April 23, 2024. The company's earnings per share (EPS) are projected to be $0.74, reflecting a 2.78% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.68 billion, up 0.1% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.43 per share and revenue of $24.32 billion, indicating changes of +9.58% and +5.67%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Halliburton holds a Zacks Rank of #3 (Hold).
Digging into valuation, Halliburton currently has a Forward P/E ratio of 11.87. This expresses a discount compared to the average Forward P/E of 17.63 of its industry.
It is also worth noting that HAL currently has a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Field Services industry currently had an average PEG ratio of 1.02 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 163, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Halliburton (HAL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Halliburton (HAL - Free Report) closed at $41.24, marking a +1.45% move from the previous day. The stock's change was more than the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 12.32% over the past month. This has outpaced the Oils-Energy sector's gain of 10.33% and the S&P 500's gain of 0.48% in that time.
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 April 23, 2024. The company's earnings per share (EPS) are projected to be $0.74, reflecting a 2.78% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.68 billion, up 0.1% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.43 per share and revenue of $24.32 billion, indicating changes of +9.58% and +5.67%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Halliburton holds a Zacks Rank of #3 (Hold).
Digging into valuation, Halliburton currently has a Forward P/E ratio of 11.87. This expresses a discount compared to the average Forward P/E of 17.63 of its industry.
It is also worth noting that HAL currently has a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Field Services industry currently had an average PEG ratio of 1.02 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 163, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.