Benzinga - by Zacks, Benzinga Contributor.
Halliburton (NYSE: HAL) closed the most recent trading day at $35.98, moving -1.07% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.74%. Meanwhile, the Dow experienced a drop of 1.53%, and the technology-dominated Nasdaq saw a decrease of 0.39%.
The provider of drilling services to oil and gas operators's stock has dropped by 6.07% in the past month, falling short of the Oils-Energy sector's loss of 1.83% and the S&P 500's gain of 6.06%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.80, marking a 3.9% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.95 billion, up 2.7% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.39 per share and a revenue of $24.3 billion, representing changes of +8.31% and +5.59%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Halliburton. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.9% lower. Right now, Halliburton possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Halliburton currently has a Forward P/E ratio of 10.73. This represents a discount compared to its industry's average Forward P/E of 16.94.
We can additionally observe that HAL currently boasts a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Field Services industry had an average PEG ratio of 0.91 as trading concluded yesterday.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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