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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 $40.99, marking a +0.12% move from the previous day. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 10.65% over the past month. This has outpaced the Oils-Energy sector's gain of 4.41% and the S&P 500's loss of 0.23% 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 January 24, 2023. In that report, analysts expect Halliburton to post earnings of $0.67 per share. This would mark year-over-year growth of 86.11%. Meanwhile, our latest consensus estimate is calling for revenue of $5.58 billion, up 30.37% from the prior-year quarter.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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 1.37% higher within the past month. Halliburton currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 13.55. This valuation marks a premium compared to its industry's average Forward P/E of 13.26.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 $40.99, marking a +0.12% move from the previous day. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 10.65% over the past month. This has outpaced the Oils-Energy sector's gain of 4.41% and the S&P 500's loss of 0.23% 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 January 24, 2023. In that report, analysts expect Halliburton to post earnings of $0.67 per share. This would mark year-over-year growth of 86.11%. Meanwhile, our latest consensus estimate is calling for revenue of $5.58 billion, up 30.37% from the prior-year quarter.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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 1.37% higher within the past month. Halliburton currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 13.55. This valuation marks a premium compared to its industry's average Forward P/E of 13.26.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.