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Halliburton (HAL) Falls More Steeply Than Broader Market: What Investors Need to Know
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Halliburton (HAL - Free Report) closed the latest trading day at $29.42, indicating a -1.44% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.3%.
The the stock of provider of drilling services to oil and gas operators has fallen by 3.49% in the past month, lagging the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.76, indicating a 3.8% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.84 billion, up 0.56% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.14 per share and revenue of $23.46 billion. These results would represent year-over-year changes of +0.32% and +1.91%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.53% decrease. As of now, Halliburton holds a Zacks Rank of #4 (Sell).
In the context of valuation, Halliburton is at present trading with a Forward P/E ratio of 9.49. This signifies a discount in comparison to the average Forward P/E of 16.75 for its industry.
It is also worth noting that HAL currently has a PEG ratio of 1.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Falls More Steeply Than Broader Market: What Investors Need to Know
Halliburton (HAL - Free Report) closed the latest trading day at $29.42, indicating a -1.44% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.3%.
The the stock of provider of drilling services to oil and gas operators has fallen by 3.49% in the past month, lagging the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.76, indicating a 3.8% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.84 billion, up 0.56% from the year-ago period.
HAL's full-year Zacks Consensus Estimates are calling for earnings of $3.14 per share and revenue of $23.46 billion. These results would represent year-over-year changes of +0.32% and +1.91%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.53% decrease. As of now, Halliburton holds a Zacks Rank of #4 (Sell).
In the context of valuation, Halliburton is at present trading with a Forward P/E ratio of 9.49. This signifies a discount in comparison to the average Forward P/E of 16.75 for its industry.
It is also worth noting that HAL currently has a PEG ratio of 1.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.