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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know

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Halliburton (HAL - Free Report) closed at $33.06 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500's daily loss of 0.25%. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, lost 1.88%.

Heading into today, shares of the provider of drilling services to oil and gas operators had lost 12.21% over the past month, lagging the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.48% 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 April 25, 2023. In that report, analysts expect Halliburton to post earnings of $0.67 per share. This would mark year-over-year growth of 91.43%. Meanwhile, our latest consensus estimate is calling for revenue of $5.5 billion, up 28.4% from the prior-year quarter.

HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.09 per share and revenue of $23.52 billion. These results would represent year-over-year changes of +43.72% and +15.9%, respectively.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 0.35% higher. Halliburton is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 10.74. This valuation marks a discount compared to its industry's average Forward P/E of 12.1.

It is also worth noting that HAL currently has a PEG ratio of 0.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HAL's industry had an average PEG ratio of 0.56 as of yesterday's close.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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