Yahoo Finance Halliburton (HAL) Gains As Market Dips: What You Should Know
Halliburton (HAL) closed the most recent trading day at $33.78, moving +0.51% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.71%.
The provider of drilling services to oil and gas operators's shares have seen a decrease of 6.54% over the last month, not keeping up with the Oils-Energy sector's loss of 1.17% and the S&P 500's gain of 3.53%.
The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. The company is slated to reveal its earnings on July 19, 2024. It is anticipated that the company will report an EPS of $0.80, marking a 3.9% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.95 billion, indicating a 2.7% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.39 per share and revenue of $24.3 billion, indicating changes of +8.31% and +5.59%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Halliburton is presently trading at a Forward P/E ratio of 9.91. This valuation marks a discount compared to its industry's average Forward P/E of 17.49.
We can additionally observe that HAL currently boasts a PEG ratio of 0.85. 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 0.96 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 163, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
