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

Halliburton (HAL) closed at $24.66 in the latest trading session, marking a -0.92% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 0.18%.Shares of the provider of drilling services to oil and gas operators witnessed a loss of 4.2% over the previous month, beating the performance of the Oils-Energy sector with its loss of 6.68% and the S&P 500's loss of 7.29%.The investment community will be paying close attention to the earnings performance of Halliburton in its upcoming release. The company is predicted to post an EPS of $0.61, indicating a 19.74% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.26 billion, down 9.29% from the year-ago period.For the full year, the Zacks Consensus Estimates project earnings of $2.63 per share and a revenue of $22.28 billion, demonstrating changes of -12.04% and -2.89%, respectively, from the preceding year.It's also important for investors to be aware of any recent modifications to analyst estimates for Halliburton. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.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 a 1.5% fall in the Zacks Consensus EPS estimate. Halliburton presently features a Zacks Rank of #4 (Sell).In terms of valuation, Halliburton is presently being traded at a Forward P/E ratio of 9.45. For comparison, its industry has an average Forward P/E of 12.42, which means Halliburton is trading at a discount to the group.One should further note that HAL currently holds a PEG ratio of 3.5. 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. HAL's industry had an average PEG ratio of 1.23 as of yesterday's close.The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Halliburton Company (HAL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks