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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know

·2 min read

Halliburton (HAL) closed the most recent trading day at $29.52, moving -1.63% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day.

Heading into today, shares of the provider of drilling services to oil and gas operators had gained 7.18% over the past month, outpacing the Oils-Energy sector's gain of 6.47% and the S&P 500's loss of 5.13% in that time.

Halliburton will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.55, up 96.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.32 billion, up 37.84% from the year-ago period.

HAL's full-year Zacks Consensus Estimates are calling for earnings of $2.01 per share and revenue of $20.24 billion. These results would represent year-over-year changes of +86.11% and +32.36%, respectively.

Investors might also notice recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% lower. Halliburton is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Halliburton currently has a Forward P/E ratio of 14.91. This represents a discount compared to its industry's average Forward P/E of 18.35.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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