Zacks: Brokerages Expect Halliburton (NYSE:HAL) Will Post Earnings of $0.30 Per Share

Wall Street brokerages expect Halliburton (NYSE:HAL) to report earnings of $0.30 per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Halliburton’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.34. Halliburton posted earnings of $0.41 per share in the same quarter last year, which indicates a negative year over year growth rate of 26.8%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, January 21st.

According to Zacks, analysts expect that Halliburton will report full year earnings of $1.21 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.25. For the next financial year, analysts forecast that the firm will report earnings of $1.36 per share, with EPS estimates ranging from $1.09 to $1.88. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Halliburton.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, October 21st. The oilfield services company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.82 billion. Halliburton had a return on equity of 12.03% and a net margin of 5.12%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS.

HAL has been the topic of several research analyst reports. Barclays lowered shares of Halliburton from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $31.00 to $23.00 in a research note on Monday, September 16th. Morgan Stanley decreased their price target on shares of Halliburton from $36.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Zacks Investment Research downgraded shares of Halliburton from a “hold” rating to a “strong sell” rating and set a $23.00 price target for the company. in a research note on Tuesday, November 5th. Citigroup dropped their price objective on shares of Halliburton from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Bank of America cut their price objective on shares of Halliburton from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.61.

In other Halliburton news, Director William E. Albrecht bought 8,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $19.35 per share, with a total value of $154,800.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $309,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Texas Yale Capital Corp. raised its position in Halliburton by 12.8% in the 2nd quarter. Texas Yale Capital Corp. now owns 35,920 shares of the oilfield services company’s stock valued at $817,000 after buying an additional 4,080 shares during the last quarter. Zeke Capital Advisors LLC raised its holdings in shares of Halliburton by 21.8% in the second quarter. Zeke Capital Advisors LLC now owns 17,054 shares of the oilfield services company’s stock valued at $388,000 after purchasing an additional 3,047 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Halliburton in the second quarter valued at about $6,756,000. Hartford Investment Management Co. lifted its position in shares of Halliburton by 0.8% during the second quarter. Hartford Investment Management Co. now owns 124,203 shares of the oilfield services company’s stock valued at $2,824,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of Halliburton by 10.8% during the second quarter. Wetherby Asset Management Inc. now owns 10,865 shares of the oilfield services company’s stock valued at $247,000 after purchasing an additional 1,060 shares in the last quarter. Institutional investors own 77.85% of the company’s stock.

Shares of NYSE:HAL traded up $0.24 during mid-day trading on Wednesday, hitting $22.57. The company had a trading volume of 12,210,904 shares, compared to its average volume of 11,836,335. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.39 and a quick ratio of 1.67. Halliburton has a one year low of $16.97 and a one year high of $32.71. The firm has a fifty day moving average price of $20.74 and a 200 day moving average price of $20.79. The company has a market capitalization of $19.72 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 4.23 and a beta of 1.49.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 5th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is 37.89%.

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.

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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