Halliburton (HAL) Dips More Than Broader Market: What You Should Know
In the latest market close, Halliburton (HAL) reached $37.30, with a -0.59% movement compared to the previous day. This change lagged the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.16%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 4.63% in the past month. In that same time, the Oils-Energy sector gained 0.87%, while the S&P 500 gained 10.77%.
Market participants will be closely following the financial results of Halliburton in its upcoming release. The company's upcoming EPS is projected at $0.80, signifying a 11.11% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.79 billion, indicating a 3.72% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.07 per share and a revenue of $23.1 billion, indicating changes of +42.79% and +13.8%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% upward. Halliburton presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 12.22. This valuation marks a discount compared to its industry's average Forward P/E of 17.37.
Meanwhile, HAL's PEG ratio is currently 0.57. 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. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.71 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 207, finds itself in the bottom 18% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Halliburton Company (HAL) : Free Stock Analysis Report
