Zacks: Analysts Expect Halliburton (NYSE:HAL) Will Post Earnings of $0.34 Per Share

Equities research analysts expect that Halliburton (NYSE:HALGet Rating) will announce earnings of $0.34 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Halliburton’s earnings, with estimates ranging from $0.34 to $0.36. Halliburton posted earnings of $0.19 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 78.9%. The firm is scheduled to report its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Halliburton will report full-year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.69 to $1.98. For the next year, analysts anticipate that the firm will post earnings of $2.54 per share, with EPS estimates ranging from $2.14 to $2.87. Zacks Investment Research’s EPS averages are an 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 for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Halliburton had a return on equity of 16.76% and a net margin of 9.53%. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share.

Several equities analysts recently commented on the company. Stifel Nicolaus upped their target price on Halliburton from $32.00 to $42.00 in a research note on Friday, April 8th. Wells Fargo & Company upped their target price on Halliburton from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, March 31st. StockNews.com assumed coverage on Halliburton in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Cowen boosted their price target on Halliburton from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, January 25th. Finally, TheStreet raised Halliburton from a “c” rating to a “b-” rating in a research report on Monday, January 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Buy” and an average price target of $31.44.

Halliburton stock traded up $0.57 during trading on Monday, hitting $40.76. The company’s stock had a trading volume of 7,578,989 shares, compared to its average volume of 10,193,269. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 25.01 and a beta of 2.42. The stock’s fifty day moving average is $35.74 and its 200 day moving average is $28.74. Halliburton has a 1-year low of $17.82 and a 1-year high of $41.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.76 and a current ratio of 2.31.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Wednesday, March 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $0.48 annualized dividend and a yield of 1.18%. This is a boost from Halliburton’s previous quarterly dividend of $0.05. Halliburton’s dividend payout ratio is presently 29.45%.

In other news, CEO Jeffrey Allen Miller sold 33,333 shares of the stock in a transaction that occurred on Tuesday, January 25th. The stock was sold at an average price of $30.00, for a total transaction of $999,990.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Charles Jr. Geer sold 3,500 shares of the stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $35.00, for a total value of $122,500.00. The disclosure for this sale can be found here. Insiders have sold 311,372 shares of company stock worth $11,381,782 in the last 90 days. 0.48% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Affinity Investment Advisors LLC increased its position in Halliburton by 1.2% during the fourth quarter. Affinity Investment Advisors LLC now owns 33,916 shares of the oilfield services company’s stock worth $776,000 after purchasing an additional 396 shares during the last quarter. Sheets Smith Wealth Management grew its stake in Halliburton by 3.5% during the fourth quarter. Sheets Smith Wealth Management now owns 12,020 shares of the oilfield services company’s stock worth $275,000 after buying an additional 410 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in Halliburton by 5.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,432 shares of the oilfield services company’s stock worth $204,000 after buying an additional 450 shares during the period. Magnolia Capital Advisors LLC grew its stake in Halliburton by 2.1% during the third quarter. Magnolia Capital Advisors LLC now owns 24,550 shares of the oilfield services company’s stock worth $531,000 after buying an additional 501 shares during the period. Finally, Spire Wealth Management grew its stake in Halliburton by 4.3% during the third quarter. Spire Wealth Management now owns 12,434 shares of the oilfield services company’s stock worth $269,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 75.98% of the company’s stock.

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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