Valued at a market cap of $24.6 billion, Halliburton Company (HAL) is a leading oilfield services provider. Based in Houston, Texas, it offers a diverse range of services and equipment globally through its two main segments: Completion and Production and Drilling and Evaluation. The company is set to release its fiscal Q3 earnings results before the market opens on Thursday, Nov. 7.
For Q3 earnings results, analysts forecast Halliburton to post a profit of $0.75 per share, a decline of 5.1% from $0.79 per share in the same quarter last year. The company has surpassed or met Wall Street's bottom-line estimates in the past four quarters. In Q2, HAL reported adjusted EPS of $0.80, which matched the consensus estimate.
For fiscal 2024, analysts expect HAL to report EPS of $3.12, a marginal decrease from $3.13 in fiscal 2023. However, looking ahead to fiscal 2025, EPS is expected to grow 7.4% year-over-year to $3.35.
Over the past 52 weeks, HAL has dropped 30.9%, underperforming the broader S&P 500 Index's ($SPX) 36.7% rise and the Energy Select Sector SPDR Fund's (XLE) 2.4% rise over the same period.
Shares of Halliburton dropped 5.6% on Jul. 19 due to its weaker-than-expected North American revenue, which fell 8% year-over-year to $2.5 billion. Both key operating segments, Completion and Production, and Drilling and Evaluation, also underperformed relative to estimates, delivering slightly lower-than-expected operating income. Additionally, Halliburton’s reported Q2 revenue of $5.8 billion missed the $6 billion consensus despite strength in international markets.
Analysts' consensus rating on Halliburton stock is bullish, with a "Strong Buy rating overall. Out of 22 analysts covering the stock, opinions include 18 "Strong Buys," one "Moderate Buy," and three "Holds." The average analyst price target for HAL is $40.77 suggesting a modest potential upside of 47.2% from current levels.
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On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
