In the latest trading session, Halliburton (HAL) closed at $26.92, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.19%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had lost 14.47% over the past month. This has lagged the Oils-Energy sector's loss of 4.09% and the S&P 500's loss of 10.24% 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. On that day, Halliburton is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 96.43%. Our most recent consensus estimate is calling for quarterly revenue of $5.32 billion, up 37.84% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $2.01 per share and revenue of $20.24 billion. These results would represent year-over-year changes of +86.11% and +32.36%, respectively.
It is also important to note the recent changes to analyst estimates for Halliburton. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Halliburton currently has a Zacks Rank of #3 (Hold).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 13.46. This represents a discount compared to its industry's average Forward P/E of 17.27.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Halliburton Company (HAL) : Free Stock Analysis Report
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