Yahoo Finanzas Why Halliburton (HAL) Outpaced the Stock Market Today
Halliburton (HAL) closed the most recent trading day at $39.42, moving +1.52% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
The provider of drilling services to oil and gas operators's shares have seen an increase of 11.1% over the last month, surpassing the Oils-Energy sector's gain of 5.98% and the S&P 500's gain of 3.55%.
Analysts and investors alike will be keeping a close eye on the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. The company is forecasted to report an EPS of $0.74, showcasing a 2.78% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.68 billion, up 0.1% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.43 per share and a revenue of $24.32 billion, demonstrating changes of +9.58% and +5.67%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Halliburton is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Halliburton is at present trading with a Forward P/E ratio of 11.34. This denotes a discount relative to the industry's average Forward P/E of 16.72.
Also, we should mention that HAL has a PEG ratio of 0.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.97 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 Report
