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Halliburton (HAL) Ascends While Market Falls: Some Facts to Note
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Halliburton (HAL - Free Report) closed at $35.34 in the latest trading session, marking a +1.99% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had lost 0.72% lagged the Oils-Energy sector's gain of 6.06% and was narrower than the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 13.33% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.29 billion, indicating a 2.29% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $21.7 billion, which would represent changes of -6.61% and -2.17%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. At present, Halliburton boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Halliburton is currently exchanging hands at a Forward P/E ratio of 15.31. This denotes a discount relative to the industry average Forward P/E of 20.79.
Investors should also note that HAL has a PEG ratio of 2.06 right now. 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 industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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) Ascends While Market Falls: Some Facts to Note
Halliburton (HAL - Free Report) closed at $35.34 in the latest trading session, marking a +1.99% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had lost 0.72% lagged the Oils-Energy sector's gain of 6.06% and was narrower than the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 13.33% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.29 billion, indicating a 2.29% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $21.7 billion, which would represent changes of -6.61% and -2.17%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. At present, Halliburton boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Halliburton is currently exchanging hands at a Forward P/E ratio of 15.31. This denotes a discount relative to the industry average Forward P/E of 20.79.
Investors should also note that HAL has a PEG ratio of 2.06 right now. 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 industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.