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Halliburton (HAL) Gains But Lags Market: What You Should Know
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In the latest trading session, Halliburton (HAL - Free Report) closed at $29.99, marking a +1.97% move from the previous day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 4.33% over the past month. This has outpaced the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be October 25, 2022. In that report, analysts expect Halliburton to post earnings of $0.56 per share. This would mark year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $5.32 billion, up 37.83% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $20.26 billion. These totals would mark changes of +87.96% and +32.46%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.98% higher. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 14.47 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.83.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Halliburton (HAL) Gains But Lags Market: What You Should Know
In the latest trading session, Halliburton (HAL - Free Report) closed at $29.99, marking a +1.97% move from the previous day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 4.33% over the past month. This has outpaced the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be October 25, 2022. In that report, analysts expect Halliburton to post earnings of $0.56 per share. This would mark year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $5.32 billion, up 37.83% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $20.26 billion. These totals would mark changes of +87.96% and +32.46%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.98% higher. Halliburton is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 14.47 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.83.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.