Yahoo Finance Halliburton (HAL) Falls More Steeply Than Broader Market: What Investors Need to Know
Halliburton (HAL) closed the latest trading day at $35.81, indicating a -1.94% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow lost 1.06%, and the tech-heavy Nasdaq lost 0.58%.
Heading into today, shares of the provider of drilling services to oil and gas operators had lost 2.54% over the past month, lagging the Oils-Energy sector's loss of 1.83% and the S&P 500's gain of 4.27% in that time.
Market participants will be closely following the financial results of Halliburton in its upcoming release. The company's earnings per share (EPS) are projected to be $0.80, reflecting a 3.9% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.95 billion, reflecting a 2.7% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.39 per share and a revenue of $24.3 billion, demonstrating changes of +8.31% and +5.59%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.05% fall in the Zacks Consensus EPS estimate. At present, Halliburton boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Halliburton is currently being traded at a Forward P/E ratio of 10.77. This expresses a discount compared to the average Forward P/E of 17.4 of its industry.
We can additionally observe that HAL currently boasts a PEG ratio of 0.93. 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 0.92.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Halliburton Company (HAL) : Free Stock Analysis Report
