Zacks: Brokerages Anticipate Halliburton (NYSE:HAL) Will Post Earnings of $0.25 Per Share

Wall Street analysts expect Halliburton (NYSE:HAL) to announce earnings per share of $0.25 for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Halliburton’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.24. Halliburton posted earnings per share of $0.35 during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.6%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, July 20th.

On average, analysts expect that Halliburton will report full-year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($1.71) to $0.10. For the next financial year, analysts anticipate that the company will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.60) to $0.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Halliburton.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, April 20th. The oilfield services company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Halliburton had a positive return on equity of 13.50% and a negative net margin of 10.60%. The company’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 EPS.

HAL has been the topic of several research analyst reports. Wells Fargo & Co lowered Halliburton from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $18.00 to $8.00 in a research note on Monday, April 13th. Piper Sandler lowered Halliburton from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $5.00 in a research note on Friday, March 27th. Scotiabank lowered Halliburton from a “sector outperform” rating to a “sector perform” rating and set a $8.00 target price on the stock. in a research note on Sunday, April 12th. Northland Securities began coverage on Halliburton in a research note on Friday, May 29th. They issued a “market perform” rating and a $11.00 target price on the stock. Finally, Credit Suisse Group reduced their target price on Halliburton from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $12.77.

Shares of NYSE:HAL traded up $0.27 during trading on Friday, hitting $12.69. 492,258 shares of the stock were exchanged, compared to its average volume of 21,428,180. The company has a fifty day moving average price of $12.28 and a two-hundred day moving average price of $15.41. The company has a market cap of $10.90 billion, a PE ratio of -4.71 and a beta of 2.53. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 1.53. Halliburton has a 12-month low of $4.25 and a 12-month high of $25.47.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.045 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.18 annualized dividend and a yield of 1.42%. Halliburton’s dividend payout ratio is currently 14.52%.

In related news, Director Murry Gerber purchased 350,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was purchased at an average cost of $8.68 per share, for a total transaction of $3,038,000.00. Following the acquisition, the director now owns 574,879 shares in the company, valued at $4,989,949.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HAL. Verus Capital Partners LLC increased its holdings in Halliburton by 568.4% in the 1st quarter. Verus Capital Partners LLC now owns 3,696 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 3,143 shares in the last quarter. NuWave Investment Management LLC increased its holdings in Halliburton by 14,029.6% in the 1st quarter. NuWave Investment Management LLC now owns 3,815 shares of the oilfield services company’s stock valued at $26,000 after purchasing an additional 3,788 shares in the last quarter. Capital Wealth Alliance LLC purchased a new position in Halliburton in the 4th quarter valued at about $27,000. Atlas Private Wealth Management purchased a new position in Halliburton in the 4th quarter valued at about $29,000. Finally, Meeder Asset Management Inc. boosted its position in Halliburton by 54.6% in the 1st quarter. Meeder Asset Management Inc. now owns 4,263 shares of the oilfield services company’s stock valued at $29,000 after buying an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 74.55% 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.

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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