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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 $33.59, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 0.93% over the past month. This has lagged the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% 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. The company is expected to report EPS of $0.67, up 91.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.07 per share and revenue of $23.52 billion, which would represent changes of +42.79% and +15.87%, respectively, from the prior year.
Investors might also notice 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Halliburton is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 10.99. This valuation marks a discount compared to its industry's average Forward P/E of 12.61.
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. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.57 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on 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 $33.59, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 0.93% over the past month. This has lagged the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% 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. The company is expected to report EPS of $0.67, up 91.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.07 per share and revenue of $23.52 billion, which would represent changes of +42.79% and +15.87%, respectively, from the prior year.
Investors might also notice 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Halliburton is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is currently trading at a Forward P/E ratio of 10.99. This valuation marks a discount compared to its industry's average Forward P/E of 12.61.
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. The Oil and Gas - Field Services industry currently had an average PEG ratio of 0.57 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.