The most recent trading session ended with Halliburton (HAL) standing at $29.20, reflecting a +0.45% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.82%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 1.77%.
Shares of the provider of drilling services to oil and gas operators have depreciated by 3.71% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8%.
The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. The company is slated to reveal its earnings on January 22, 2025. The company is expected to report EPS of $0.70, down 18.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, down 1.47% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3 per share and a revenue of $22.99 billion, demonstrating changes of -4.15% and -0.12%, respectively, from the preceding year.
Any recent changes to analyst estimates for Halliburton should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.74% lower. Halliburton presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, Halliburton is holding a Forward P/E ratio of 9.7. For comparison, its industry has an average Forward P/E of 19.12, which means Halliburton is trading at a discount to the group.
Also, we should mention that HAL has a PEG ratio of 3.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 1.17.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
