Halliburton (HAL) Stock Dips While Market Gains: Key Facts
Halliburton (HAL) closed the most recent trading day at $36.66, moving -1.05% from the previous trading session. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.16%.
The provider of drilling services to oil and gas operators's stock has dropped by 1.25% in the past month, falling short of the Oils-Energy sector's gain of 2.24% and the S&P 500's gain of 4.89%.
Market participants will be closely following the financial results of Halliburton in its upcoming release. The company plans to announce its earnings on January 23, 2024. The company is expected to report EPS of $0.80, up 11.11% from the prior-year quarter. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.07 per share and revenue of $23.1 billion. These totals would mark changes of +42.79% and +13.79%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 an unchanged state. Halliburton is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Halliburton is currently exchanging hands at a Forward P/E ratio of 12.06. This represents a discount compared to its industry's average Forward P/E of 18.09.
It is also worth noting that HAL currently has a PEG ratio of 0.57. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Field Services industry had an average PEG ratio of 0.73.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Halliburton Company (HAL) : Free Stock Analysis Report
