Halliburton (HAL) Stock Falls Amid Market Uptick: What Investors Need to Know
Halliburton (HAL) ended the recent trading session at $37.71, demonstrating a -0.05% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.82%.
The provider of drilling services to oil and gas operators's stock has climbed by 6.85% in the past month, exceeding the Oils-Energy sector's gain of 4.4% and the S&P 500's gain of 1.76%.
The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on April 23, 2024. The company is expected to report EPS of $0.75, up 4.17% from the prior-year quarter. 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 annual period, the Zacks Consensus Estimates anticipate earnings of $3.43 per share and a revenue of $24.32 billion, signifying shifts of +9.58% and +5.67%, respectively, from the last year.
It is also important to note the recent changes to 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 11.02. This indicates a discount in contrast to its industry's Forward P/E of 16.33.
We can also see that HAL currently has a PEG ratio of 0.94. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 0.94.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 148, finds itself in the bottom 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Halliburton Company (HAL) : Free Stock Analysis Report
