Brokerages Expect Halliburton (NYSE:HAL) Will Post Quarterly Sales of $3.10 Billion

Wall Street analysts expect that Halliburton (NYSE:HAL) will announce sales of $3.10 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Halliburton’s earnings, with the lowest sales estimate coming in at $2.97 billion and the highest estimate coming in at $3.17 billion. Halliburton reported sales of $5.55 billion in the same quarter last year, which would suggest a negative year over year growth rate of 44.1%. The company is expected to announce its next quarterly earnings results before the market opens on Monday, October 19th.

According to Zacks, analysts expect that Halliburton will report full-year sales of $14.43 billion for the current financial year, with estimates ranging from $14.30 billion to $14.58 billion. For the next year, analysts anticipate that the business will report sales of $13.27 billion, with estimates ranging from $12.16 billion to $14.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Halliburton.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, July 20th. The oilfield services company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.16. Halliburton had a positive return on equity of 12.02% and a negative net margin of 21.35%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the company earned $0.35 EPS. Halliburton’s revenue for the quarter was down 46.1% on a year-over-year basis.

A number of research analysts recently issued reports on the company. HSBC lifted their price target on Halliburton from $9.50 to $13.70 and gave the company a “hold” rating in a report on Wednesday, July 22nd. ValuEngine downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Royal Bank of Canada increased their price target on shares of Halliburton from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Cowen upgraded shares of Halliburton from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $13.00 to $17.00 in a research report on Wednesday, July 15th. Finally, Citigroup upped their price objective on Halliburton from $7.50 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $13.60.

Halliburton stock traded down $0.88 on Monday, reaching $11.17. The company’s stock had a trading volume of 27,017,320 shares, compared to its average volume of 21,315,330. The business’s fifty day moving average price is $15.12 and its 200 day moving average price is $11.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 2.22. The company has a market cap of $9.81 billion, a price-to-earnings ratio of -2.42, a PEG ratio of 4.05 and a beta of 2.62. Halliburton has a twelve month low of $4.25 and a twelve month high of $25.47.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.61%. Halliburton’s dividend payout ratio is 14.52%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Halliburton by 8.6% during the 1st quarter. State Street Corp now owns 46,567,949 shares of the oilfield services company’s stock worth $318,990,000 after buying an additional 3,690,616 shares during the period. Sanders Capital LLC lifted its stake in Halliburton by 5.2% in the second quarter. Sanders Capital LLC now owns 23,692,943 shares of the oilfield services company’s stock valued at $348,751,000 after buying an additional 1,171,025 shares in the last quarter. Aristotle Capital Management LLC boosted its holdings in shares of Halliburton by 14.7% in the first quarter. Aristotle Capital Management LLC now owns 15,497,387 shares of the oilfield services company’s stock valued at $106,157,000 after buying an additional 1,983,753 shares during the period. Geode Capital Management LLC increased its position in shares of Halliburton by 1.7% during the first quarter. Geode Capital Management LLC now owns 13,658,075 shares of the oilfield services company’s stock worth $93,373,000 after acquiring an additional 224,623 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Halliburton by 3.3% during the first quarter. Legal & General Group Plc now owns 6,252,902 shares of the oilfield services company’s stock worth $43,285,000 after acquiring an additional 197,223 shares in the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

Halliburton Company Profile

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.

See Also: P/E Growth (PEG)

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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