Analysts Expect Halliburton (NYSE:HAL) Will Announce Quarterly Sales of $5.97 Billion

Equities analysts predict that Halliburton (NYSE:HAL) will report sales of $5.97 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Halliburton’s earnings. The lowest sales estimate is $5.93 billion and the highest is $6.02 billion. Halliburton reported sales of $6.15 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.9%. The company is scheduled to report its next earnings report before the market opens on Monday, July 22nd.

According to Zacks, analysts expect that Halliburton will report full year sales of $24.37 billion for the current fiscal year, with estimates ranging from $23.85 billion to $24.87 billion. For the next fiscal year, analysts forecast that the company will report sales of $27.03 billion, with estimates ranging from $25.39 billion to $29.15 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Halliburton.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year.

HAL has been the subject of a number of analyst reports. ValuEngine lowered Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Morgan Stanley set a $40.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group initiated coverage on Halliburton in a research report on Sunday, March 10th. They set a “buy” rating and a $42.00 price objective for the company. SunTrust Banks reduced their price objective on Halliburton to $39.00 and set an “average” rating for the company in a research report on Tuesday, April 23rd. Finally, UBS Group set a $36.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.71.

In other Halliburton news, CFO Lance Loeffler sold 5,926 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $28.35, for a total transaction of $168,002.10. Following the completion of the transaction, the chief financial officer now owns 55,885 shares in the company, valued at approximately $1,584,339.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Castle Rock Wealth Management LLC bought a new stake in shares of Halliburton in the 1st quarter worth $13,419,000. One Wealth Advisors LLC bought a new stake in shares of Halliburton in the 1st quarter worth $25,000. Coastal Investment Advisors Inc. bought a new stake in shares of Halliburton in the 1st quarter worth $28,000. SevenBridge Financial Group LLC raised its stake in shares of Halliburton by 387.5% in the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after buying an additional 775 shares in the last quarter. Finally, Essex Savings Bank bought a new stake in shares of Halliburton in the 4th quarter worth $27,000. Institutional investors own 77.39% of the company’s stock.

NYSE:HAL opened at $21.63 on Thursday. Halliburton has a 12-month low of $20.98 and a 12-month high of $48.89. The company has a market cap of $18.90 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.17 and a beta of 1.31. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 1.07.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.33%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

About Halliburton

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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