Halliburton (HAL) closed the most recent trading day at $22.28, moving -3.17% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.13%.
The stock of provider of drilling services to oil and gas operators has risen by 12.35% in the past month, leading the Oils-Energy sector's gain of 5.57% and the S&P 500's gain of 0.6%.
The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.57, marking a 28.75% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.46 billion, down 6.42% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.37 per share and a revenue of $21.87 billion, indicating changes of -20.74% and -4.7%, respectively, from the former year.
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 such, positive estimate revisions reflect analyst optimism about the business 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.21% lower within the past month. Halliburton is currently a Zacks Rank #4 (Sell).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 9.69. This indicates a discount in contrast to its industry's Forward P/E of 15.71.
We can also see that HAL currently has a PEG ratio of 3.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 3.74.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Halliburton Company (HAL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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