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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
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Halliburton (HAL - Free Report) closed the most recent trading day at $36.55, moving -1.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 4.91% in the past month. In that same time, the Oils-Energy sector lost 4.66%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be January 24, 2023. On that day, Halliburton is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.58 billion, up 30.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.07 per share and revenue of $20.29 billion, which would represent changes of +91.67% and +32.66%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.83% higher within the past month. Halliburton is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 17.9. This valuation marks a discount compared to its industry's average Forward P/E of 23.89.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 19, putting 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know
Halliburton (HAL - Free Report) closed the most recent trading day at $36.55, moving -1.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Coming into today, shares of the provider of drilling services to oil and gas operators had lost 4.91% in the past month. In that same time, the Oils-Energy sector lost 4.66%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. This is expected to be January 24, 2023. On that day, Halliburton is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.58 billion, up 30.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.07 per share and revenue of $20.29 billion, which would represent changes of +91.67% and +32.66%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.83% higher within the past month. Halliburton is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 17.9. This valuation marks a discount compared to its industry's average Forward P/E of 23.89.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 19, putting 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.