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Halliburton (HAL) Outpaces Stock Market Gains: What You Should Know

Halliburton (HAL) closed at $33.41 in the latest trading session, marking a +1.49% move from the prior day. This change outpaced the S&P 500's 0.77% gain on the day. Meanwhile, the Dow experienced a rise of 0.49%, and the technology-dominated Nasdaq saw an increase of 0.95%.

Shares of the provider of drilling services to oil and gas operators have depreciated by 13.14% over the course of the past month, underperforming the Oils-Energy sector's loss of 7.24% and the S&P 500's gain of 3.71%.

Investors will be eagerly watching for the performance of Halliburton in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 19, 2024. It is anticipated that the company will report an EPS of $0.80, marking a 3.9% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.95 billion, reflecting a 2.7% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.39 per share and revenue of $24.3 billion. These totals would mark changes of +8.31% and +5.59%, respectively, from last year.


It is also important to note the recent changes to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Halliburton is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 9.71. This indicates a discount in contrast to its industry's Forward P/E of 16.35.

We can additionally observe that HAL currently boasts a PEG ratio of 0.84. 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 0.87 at yesterday's closing price.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 149, finds itself in the bottom 41% echelons 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.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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