Halliburton (HAL) Stock Moves -0.08%: What You Should Know
The most recent trading session ended with Halliburton (HAL) standing at $36.12, reflecting a -0.08% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 3.26% in the past month. In that same time, the Oils-Energy sector gained 0.24%, while the S&P 500 gained 4%.
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's earnings per share (EPS) are projected to be $0.80, reflecting a 11.11% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.79 billion, up 3.7% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Halliburton currently has a Forward P/E ratio of 10.41. Its industry sports an average Forward P/E of 14.36, so one might conclude that Halliburton is trading at a discount comparatively.
We can also see that HAL currently has a PEG ratio of 0.49. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. HAL's industry had an average PEG ratio of 0.69 as of yesterday's close.
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 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
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Halliburton Company (HAL) : Free Stock Analysis Report
