Halliburton (HAL) Flat As Market Sinks: What You Should Know
Halliburton (HAL) closed the latest trading day at $35.18, indicating no change from the previous session's end. This move was narrower than the S&P 500's daily loss of 1.02%. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 1.88% over the past month, lagging the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 3.64% in that time.
The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. The company is forecasted to report an EPS of $0.75, showcasing a 4.17% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.68 billion, indicating a 0.1% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.43 per share and revenue of $24.32 billion, which would represent changes of +9.58% and +5.67%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% decrease. As of now, Halliburton holds a Zacks Rank of #3 (Hold).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 10.27. This signifies a discount in comparison to the average Forward P/E of 13.96 for its industry.
Meanwhile, HAL's PEG ratio is currently 0.88. 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. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 0.89.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Halliburton Company (HAL) : Free Stock Analysis Report
