Halliburton (HAL) closed the most recent trading day at $21.79, moving -1.98% from the previous trading session. This change lagged the S&P 500's daily gain of 0.47%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.94%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had gained 5.26% outpaced the Oils-Energy sector's gain of 2.51% and the S&P 500's gain of 2.32%.
Investors will be eagerly watching for the performance of Halliburton in its upcoming earnings disclosure. On that day, Halliburton is projected to report earnings of $0.5 per share, which would represent a year-over-year decline of 31.51%. Meanwhile, our latest consensus estimate is calling for revenue of $5.39 billion, down 5.31% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.12 per share and a revenue of $21.43 billion, signifying shifts of -29.1% and -6.58%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. At present, Halliburton boasts a Zacks Rank of #4 (Sell).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 10.5. This valuation marks a discount compared to its industry average Forward P/E of 17.25.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Halliburton Company (HAL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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