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Halliburton (HAL) Gains As Market Dips: What You Should Know
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Halliburton (HAL - Free Report) closed at $34.11 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 6.07% over the past month, lagging the Oils-Energy sector's gain of 12.26% and the S&P 500's gain of 6.23% 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 April 25, 2023. On that day, Halliburton is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 91.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.06 per share and revenue of $23.55 billion. These totals would mark changes of +42.33% and +16.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.77% lower. Halliburton is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 11.06. This represents a discount compared to its industry's average Forward P/E of 11.79.
It is also worth noting that HAL currently has a PEG ratio of 0.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.56 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
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Halliburton (HAL) Gains As Market Dips: What You Should Know
Halliburton (HAL - Free Report) closed at $34.11 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Heading into today, shares of the provider of drilling services to oil and gas operators had gained 6.07% over the past month, lagging the Oils-Energy sector's gain of 12.26% and the S&P 500's gain of 6.23% 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 April 25, 2023. On that day, Halliburton is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 91.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 28.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.06 per share and revenue of $23.55 billion. These totals would mark changes of +42.33% and +16.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.77% lower. Halliburton is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 11.06. This represents a discount compared to its industry's average Forward P/E of 11.79.
It is also worth noting that HAL currently has a PEG ratio of 0.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.56 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.