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Why Halliburton (HAL) Outpaced the Stock Market Today
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Halliburton (HAL - Free Report) closed the most recent trading day at $29.04, moving +1.61% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.68%. On the other hand, the Dow registered a gain of 1.05%, and the technology-centric Nasdaq increased by 0.33%.
Shares of the provider of drilling services to oil and gas operators have appreciated by 1.85% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.84%, and the S&P 500's gain of 1.8%.
The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. On that day, Halliburton is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 22.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.39 billion, indicating a 3.92% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.26 per share and revenue of $21.87 billion. These totals would mark changes of -24.41% and -4.69%, respectively, from last year.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.32% higher. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 12.66. This denotes a discount relative to the industry average Forward P/E of 19.77.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Why Halliburton (HAL) Outpaced the Stock Market Today
Halliburton (HAL - Free Report) closed the most recent trading day at $29.04, moving +1.61% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.68%. On the other hand, the Dow registered a gain of 1.05%, and the technology-centric Nasdaq increased by 0.33%.
Shares of the provider of drilling services to oil and gas operators have appreciated by 1.85% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.84%, and the S&P 500's gain of 1.8%.
The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. On that day, Halliburton is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 22.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.39 billion, indicating a 3.92% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.26 per share and revenue of $21.87 billion. These totals would mark changes of -24.41% and -4.69%, respectively, from last year.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.32% higher. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 12.66. This denotes a discount relative to the industry average Forward P/E of 19.77.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.