In the latest trading session, Halliburton (HAL) closed at $29.81, marking a +1.95% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 1.95% over the past month, outpacing the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% in that time.
Investors will be hoping for strength from Halliburton as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $0.55, up 96.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.32 billion, up 37.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.01 per share and revenue of $20.24 billion. These totals would mark changes of +86.11% and +32.36%, respectively, from last year.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 past month, the Zacks Consensus EPS estimate has moved 0.06% higher. Halliburton currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 14.52 right now. For comparison, its industry has an average Forward P/E of 20, which means Halliburton is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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
Halliburton Company (HAL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research