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In the latest trading session, Halliburton (HAL) closed at $42.97, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 23.99% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
Halliburton will be looking to display strength as it nears its next earnings release. On that day, Halliburton is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 73.08%. Meanwhile, our latest consensus estimate is calling for revenue of $4.71 billion, up 26.98% from the prior-year quarter.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $1.91 per share and revenue of $19.19 billion. These results would represent year-over-year changes of +76.85% and +25.44%, respectively.
Investors might also notice recent changes to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Halliburton currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 22.22. This valuation marks a discount compared to its industry's average Forward P/E of 28.42.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Halliburton Company (HAL) : Free Stock Analysis Report
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