Wall Street analysts expect Halliburton (HAL) to post quarterly earnings of $0.50 per share in its upcoming report, which indicates a year-over-year decline of 31.5%. Revenues are expected to be $5.39 billion, down 5.3% from the year-ago quarter.
The current level reflects a downward revision of 2.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Halliburton metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenues- Drilling and Evaluation' reaching $2.28 billion. The estimate points to a change of -4.8% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenues- Completion and Production' of $3.12 billion. The estimate points to a change of -5.4% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenues- Latin America' will likely reach $960.53 million. The estimate indicates a change of -8.8% from the prior-year quarter.
The consensus among analysts is that 'Revenues- Europe/Africa/CIS' will reach $754.30 million. The estimate suggests a change of +4.5% year over year.
According to the collective judgment of analysts, 'Revenues- North America' should come in at $2.17 billion. The estimate indicates a change of -9.1% from the prior-year quarter.
Analysts predict that the 'Revenues- Middle East/Asia' will reach $1.51 billion. The estimate indicates a year-over-year change of -1.5%.
Based on the collective assessment of analysts, 'Operating income- Completion and Production' should arrive at $448.97 million. The estimate compares to the year-ago value of $669.00 million.
It is projected by analysts that the 'Operating income- Drilling and Evaluation' will reach $337.72 million. The estimate is in contrast to the year-ago figure of $406.00 million.
View all Key Company Metrics for Halliburton here>>>
Over the past month, Halliburton shares have recorded returns of -2.4% versus the Zacks S&P 500 composite's +0.7% change. Based on its Zacks Rank #5 (Strong Sell), HAL will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Halliburton Company (HAL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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