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Halliburton (HAL) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

Halliburton (HAL) closed the most recent trading day at $12.11, moving -0.66% from the previous trading session. This change lagged the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, lost 0.46%.

Investors will be hoping for strength from HAL as it approaches its next earnings release, which is expected to be July 20, 2020. The company is expected to report EPS of -$0.10, down 128.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.51 billion, down 40.87% from the year-ago period.

HAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.22 per share and revenue of $14.67 billion. These results would represent year-over-year changes of -117.74% and -34.53%, respectively.

Investors should also note any recent changes to analyst estimates for HAL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 407.69% lower. HAL is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Zacks Investment Research