Halliburton (HAL) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Halliburton (HAL) ended the recent trading session at $34.69, demonstrating a +0.73% swing from the preceding day's closing price. This change lagged the S&P 500's 1.37% gain on the day. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 1.38%.
The provider of drilling services to oil and gas operators's stock has dropped by 12.1% in the past month, falling short of the Oils-Energy sector's loss of 2.08% and the S&P 500's gain of 5.37%.
Investors will be eagerly watching for the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 23, 2024. The company is predicted to post an EPS of $0.80, indicating a 11.11% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.79 billion, reflecting a 3.7% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.07 per share and a revenue of $23.1 billion, signifying shifts of +42.79% and +13.79%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Halliburton. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 11.21 right now. This represents a discount compared to its industry's average Forward P/E of 16.21.
We can also see that HAL currently has a PEG ratio of 0.53. 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. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.65 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Halliburton Company (HAL) : Free Stock Analysis Report
