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Halliburton (HAL) Stock Moves -0.47%: What You Should Know
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The most recent trading session ended with Halliburton (HAL - Free Report) standing at $40.65, reflecting a -0.47% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.23%. On the other hand, the Dow registered a loss of 1.36%, and the technology-centric Nasdaq decreased by 1.4%.
Shares of the provider of drilling services to oil and gas operators witnessed a gain of 15.53% over the previous month, beating the performance of the Oils-Energy sector with its gain of 9.61% and the S&P 500's gain of 1.61%.
The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is expected to report EPS of $0.74, up 2.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.68 billion, up 0.1% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.43 per share and revenue of $24.32 billion, which would represent changes of +9.58% and +5.67%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Halliburton. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 11.92. Its industry sports an average Forward P/E of 17.83, so one might conclude that Halliburton is trading at a discount comparatively.
It's also important to note that HAL currently trades at a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 1.02.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Halliburton (HAL) Stock Moves -0.47%: What You Should Know
The most recent trading session ended with Halliburton (HAL - Free Report) standing at $40.65, reflecting a -0.47% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.23%. On the other hand, the Dow registered a loss of 1.36%, and the technology-centric Nasdaq decreased by 1.4%.
Shares of the provider of drilling services to oil and gas operators witnessed a gain of 15.53% over the previous month, beating the performance of the Oils-Energy sector with its gain of 9.61% and the S&P 500's gain of 1.61%.
The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is expected to report EPS of $0.74, up 2.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.68 billion, up 0.1% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.43 per share and revenue of $24.32 billion, which would represent changes of +9.58% and +5.67%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Halliburton. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 11.92. Its industry sports an average Forward P/E of 17.83, so one might conclude that Halliburton is trading at a discount comparatively.
It's also important to note that HAL currently trades at a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 1.02.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.