Halliburton (NYSE:HAL) Expected to Announce Quarterly Sales of $4.18 Billion

Equities research analysts forecast that Halliburton (NYSE:HALGet Rating) will report sales of $4.18 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Halliburton’s earnings, with estimates ranging from $4.11 billion to $4.23 billion. Halliburton posted sales of $3.45 billion during the same quarter last year, which suggests a positive year over year growth rate of 21.2%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Halliburton will report full year sales of $18.25 billion for the current fiscal year, with estimates ranging from $17.88 billion to $18.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $20.73 billion, with estimates ranging from $19.71 billion to $22.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Halliburton.

Halliburton (NYSE:HALGet Rating) last issued its earnings results on Monday, January 24th. The oilfield services company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Halliburton had a net margin of 9.53% and a return on equity of 16.76%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share.

A number of analysts recently issued reports on the stock. Stephens increased their target price on shares of Halliburton from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 25th. Cowen raised their price objective on Halliburton from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 25th. Morgan Stanley raised their price objective on Halliburton from $32.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. TheStreet raised Halliburton from a “c” rating to a “b-” rating in a research report on Monday, January 24th. Finally, BMO Capital Markets increased their target price on Halliburton from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.44.

HAL traded up $0.57 on Wednesday, reaching $40.76. The company had a trading volume of 7,578,989 shares, compared to its average volume of 10,193,269. Halliburton has a one year low of $17.82 and a one year high of $41.03. The company has a current ratio of 2.31, a quick ratio of 1.76 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $36.71 billion, a P/E ratio of 25.01 and a beta of 2.42. The company has a fifty day moving average of $35.74 and a 200-day moving average of $28.74.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 2nd were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 1st. This is a positive change from Halliburton’s previous quarterly dividend of $0.05. This represents a $0.48 annualized dividend and a yield of 1.18%. Halliburton’s payout ratio is 29.45%.

In related news, CEO Jeffrey Allen Miller sold 33,333 shares of the stock in a transaction dated Tuesday, January 25th. The shares were sold at an average price of $30.00, for a total value of $999,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lance Loeffler sold 24,061 shares of the firm’s stock in a transaction that occurred on Tuesday, January 25th. The shares were sold at an average price of $30.00, for a total transaction of $721,830.00. The disclosure for this sale can be found here. Insiders sold 311,372 shares of company stock valued at $11,381,782 over the last quarter. 0.48% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Rather & Kittrell Inc. bought a new position in shares of Halliburton during the fourth quarter valued at approximately $25,000. City State Bank purchased a new position in shares of Halliburton during the fourth quarter worth $25,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Halliburton during the third quarter worth $26,000. MCF Advisors LLC grew its position in Halliburton by 265.3% during the third quarter. MCF Advisors LLC now owns 1,472 shares of the oilfield services company’s stock valued at $32,000 after buying an additional 1,069 shares during the period. Finally, UMB Bank N A MO acquired a new stake in Halliburton during the fourth quarter valued at $37,000. 75.98% of the stock is owned by institutional investors.

Halliburton Company Profile (Get Rating)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

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