Halliburton (HAL) closed at $29.73 in the latest trading session, marking a -1.56% move from the prior day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Prior to today's trading, shares of the provider of drilling services to oil and gas operators had lost 7.22% over the past month. This has lagged the Oils-Energy sector's loss of 4.86% and the S&P 500's gain of 1.03% in that time.
Halliburton will be looking to display strength as it nears its next earnings release. On that day, Halliburton is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 53.06%. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 billion, up 15.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.13 per share and revenue of $23.83 billion, which would represent changes of +45.58% and +17.38%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.77% higher. Halliburton currently has a Zacks Rank of #3 (Hold).
Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 9.64. This valuation marks a discount compared to its industry's average Forward P/E of 13.26.
It is also worth noting that HAL currently has a PEG ratio of 0.38. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Field Services was holding an average PEG ratio of 0.62 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 217, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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