Halliburton (HAL) closed the most recent trading day at $40.76, moving -1.28% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 6.64% over the past month, outpacing the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be October 24, 2023. In that report, analysts expect Halliburton to post earnings of $0.77 per share. This would mark year-over-year growth of 28.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.85 billion, up 9.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.04 per share and revenue of $23.28 billion, which would represent changes of +41.4% and +14.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Halliburton. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Halliburton is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 13.57 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.13.
It is also worth noting that HAL currently has a PEG ratio of 0.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HAL's industry had an average PEG ratio of 0.75 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 57, putting it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report