Zacks: Analysts Expect Halliburton (NYSE:HAL) Will Announce Quarterly Sales of $4.18 Billion

Equities research analysts expect Halliburton (NYSE:HALGet Rating) to announce sales of $4.18 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Halliburton’s earnings. The highest sales estimate is $4.23 billion and the lowest is $4.11 billion. Halliburton posted sales of $3.45 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.2%. The business is expected to report 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 anticipate that the company will post 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 research firms that follow Halliburton.

Halliburton (NYSE:HALGet Rating) last released its quarterly earnings results on Monday, January 24th. The oilfield services company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.09 billion. Halliburton had a net margin of 9.53% and a return on equity of 16.76%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share.

A number of equities analysts recently weighed in on HAL shares. Royal Bank of Canada lifted their target price on shares of Halliburton from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 25th. Susquehanna Bancshares lifted their target price on shares of Halliburton from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, January 25th. Stephens lifted their target price on shares of Halliburton from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 25th. Stifel Nicolaus lifted their target price on shares of Halliburton from $32.00 to $42.00 in a research note on Friday, April 8th. Finally, Morgan Stanley lifted their target price on shares of Halliburton from $32.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $31.44.

NYSE HAL traded up $0.57 during mid-day trading on Wednesday, reaching $40.76. 7,578,989 shares of the stock were exchanged, 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 stock has a 50 day simple moving average of $35.74 and a 200-day simple moving average of $28.74. The stock has a market cap of $36.71 billion, a P/E ratio of 25.01 and a beta of 2.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.31 and a quick ratio of 1.76.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Stockholders of record on Wednesday, March 2nd were issued a dividend of $0.12 per share. This is a boost from Halliburton’s previous quarterly dividend of $0.05. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Tuesday, March 1st. Halliburton’s dividend payout ratio (DPR) is currently 29.45%.

In related news, CAO Charles Jr. Geer sold 3,500 shares of the firm’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $35.00, for a total transaction of $122,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Richard sold 16,318 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $33.15, for a total transaction of $540,941.70. The disclosure for this sale can be found here. Insiders have sold 311,372 shares of company stock valued at $11,381,782 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Halliburton by 6.4% during the fourth quarter. BlackRock Inc. now owns 67,462,484 shares of the oilfield services company’s stock valued at $1,542,867,000 after purchasing an additional 4,047,725 shares in the last quarter. State Street Corp raised its position in Halliburton by 0.7% in the fourth quarter. State Street Corp now owns 57,475,992 shares of the oilfield services company’s stock worth $1,314,476,000 after acquiring an additional 389,378 shares during the period. Pzena Investment Management LLC raised its position in Halliburton by 1.4% in the third quarter. Pzena Investment Management LLC now owns 39,013,261 shares of the oilfield services company’s stock worth $843,467,000 after acquiring an additional 546,241 shares during the period. Norges Bank bought a new stake in Halliburton in the fourth quarter worth about $487,897,000. Finally, Sanders Capital LLC raised its position in Halliburton by 1.5% in the fourth quarter. Sanders Capital LLC now owns 20,700,390 shares of the oilfield services company’s stock worth $528,378,000 after acquiring an additional 313,993 shares during the period. 75.98% of the stock is currently owned by institutional investors.

About Halliburton (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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