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Halliburton (HAL) Registers a Bigger Fall Than the Market: Important Facts to Note

Halliburton (HAL) closed the latest trading day at $38.04, indicating a -1.04% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.58%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.15%.

The provider of drilling services to oil and gas operators's shares have seen a decrease of 0.08% over the last month, not keeping up with the Oils-Energy sector's gain of 3.55% and outstripping the S&P 500's loss of 1.09%.

The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on April 23, 2024. It is anticipated that the company will report an EPS of $0.74, marking a 2.78% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.68 billion, up 0.1% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.42 per share and a revenue of $24.32 billion, indicating changes of +9.27% and +5.67%, respectively, from the former year.

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Investors should also note any recent changes to analyst estimates for Halliburton. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Halliburton is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 11.23. For comparison, its industry has an average Forward P/E of 16.86, which means Halliburton is trading at a discount to the group.

We can also see that HAL currently has a PEG ratio of 0.98. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 0.98.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 27% echelons 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.

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

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