Equities analysts expect Halliburton (NYSE:HAL) to post sales of $6.11 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Halliburton’s earnings. The lowest sales estimate is $5.98 billion and the highest is $6.28 billion. Halliburton posted sales of $4.96 billion during the same quarter last year, which would indicate a positive year over year growth rate of 23.2%. The business is scheduled to announce its next earnings results before the market opens on Monday, July 23rd.
On average, analysts expect that Halliburton will report full year sales of $24.91 billion for the current financial year, with estimates ranging from $24.17 billion to $25.73 billion. For the next fiscal year, analysts forecast that the business will report sales of $28.03 billion per share, with estimates ranging from $25.76 billion to $30.16 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Halliburton.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, April 23rd. The oilfield services company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.74 billion. Halliburton had a positive return on equity of 15.87% and a negative net margin of 1.74%. The business’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS.
Several analysts recently commented on HAL shares. Bank of America lowered Halliburton from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Monday, February 26th. ValuEngine downgraded Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Zacks Investment Research upgraded Halliburton from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, March 6th. Cowen set a $54.00 price objective on Halliburton and gave the company a “hold” rating in a research report on Thursday, March 15th. Finally, Jefferies Financial Group set a $62.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.91.
A number of large investors have recently bought and sold shares of the business. Moors & Cabot Inc. increased its stake in shares of Halliburton by 2.9% during the first quarter. Moors & Cabot Inc. now owns 34,491 shares of the oilfield services company’s stock valued at $1,619,000 after purchasing an additional 969 shares in the last quarter. Wealthstreet Investment Advisors LLC increased its position in Halliburton by 3.6% in the first quarter. Wealthstreet Investment Advisors LLC now owns 31,539 shares of the oilfield services company’s stock worth $1,481,000 after buying an additional 1,100 shares during the period. State Treasurer State of Michigan increased its position in Halliburton by 0.4% in the first quarter. State Treasurer State of Michigan now owns 256,879 shares of the oilfield services company’s stock worth $12,058,000 after buying an additional 1,100 shares during the period. Arvest Bank Trust Division increased its position in Halliburton by 15.8% in the first quarter. Arvest Bank Trust Division now owns 8,811 shares of the oilfield services company’s stock worth $414,000 after buying an additional 1,200 shares during the period. Finally, Corient Capital Partners LLC increased its position in Halliburton by 8.5% in the fourth quarter. Corient Capital Partners LLC now owns 15,679 shares of the oilfield services company’s stock worth $766,000 after buying an additional 1,222 shares during the period. 79.41% of the stock is owned by hedge funds and other institutional investors.
HAL stock traded up $1.30 during trading on Wednesday, hitting $46.22. The company had a trading volume of 15,095,342 shares, compared to its average volume of 8,475,309. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.22 and a quick ratio of 1.73. The firm has a market cap of $39.35 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 2.26 and a beta of 1.02. Halliburton has a fifty-two week low of $38.18 and a fifty-two week high of $57.86.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. Halliburton’s payout ratio is 59.02%.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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