In the latest trading session, Halliburton (HAL) closed at $38.91, marking a +0.41% move from the previous day. This change outpaced the S&P 500’s 0.38% gain on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.54%.
Prior to today’s trading, shares of the provider of drilling services to oil and gas operators had lost 1.32% over the past month. This has lagged the Oils-Energy sector’s gain of 2.74% and was narrower than the S&P 500’s loss of 1.68% in that time.
Wall Street will be looking for positivity from Halliburton as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.85 billion, up 9.27% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% lower. Halliburton is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Halliburton’s current valuation metrics, including its Forward P/E ratio of 12.74. This valuation marks a discount compared to its industry’s average Forward P/E of 18.32.
Meanwhile, HAL’s PEG ratio is currently 0.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Oil and Gas – Field Services was holding an average PEG ratio of 1.04 at yesterday’s closing price.
The Oil and Gas – Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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.
To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.
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