Zacks: Analysts Expect Halliburton (NYSE:HAL) Will Announce Quarterly Sales of $4.71 Billion

Analysts expect Halliburton (NYSE:HALGet Rating) to post sales of $4.71 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Halliburton’s earnings. The lowest sales estimate is $4.70 billion and the highest is $4.71 billion. Halliburton reported sales of $3.71 billion during the same quarter last year, which would suggest a positive year over year growth rate of 27%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Halliburton will report full year sales of $19.19 billion for the current year, with estimates ranging from $19.00 billion to $19.42 billion. For the next year, analysts anticipate that the business will report sales of $22.18 billion, with estimates ranging from $21.32 billion to $23.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Halliburton.

Halliburton (NYSE:HALGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The oilfield services company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.20 billion. Halliburton had a net margin of 9.61% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS.

A number of research firms have recently commented on HAL. Bank of America raised their price objective on shares of Halliburton from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 20th. JPMorgan Chase & Co. raised their price objective on shares of Halliburton from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, January 25th. HSBC raised shares of Halliburton from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.60 to $41.60 in a report on Wednesday, April 27th. Citigroup lifted their price target on shares of Halliburton from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Finally, Barclays lifted their price target on shares of Halliburton from $36.00 to $50.00 in a report on Wednesday, April 27th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of “Buy” and a consensus price target of $37.93.

NYSE:HAL opened at $36.67 on Wednesday. The company has a 50-day moving average of $36.96 and a 200-day moving average of $29.94. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 21.20 and a beta of 2.29. Halliburton has a 52 week low of $17.82 and a 52 week high of $42.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.61 and a current ratio of 2.19.

In related news, CAO Charles Jr. Geer sold 3,500 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $35.00, for a total transaction of $122,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lance Loeffler sold 27,912 shares of the stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $42.00, for a total value of $1,172,304.00. Following the transaction, the chief financial officer now owns 135,681 shares of the company’s stock, valued at approximately $5,698,602. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,790 shares of company stock valued at $11,033,166. Corporate insiders own 0.57% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. bought a new position in Halliburton during the 1st quarter worth about $25,000. First PREMIER Bank bought a new position in Halliburton during the 1st quarter worth about $27,000. Riverview Trust Co bought a new position in Halliburton during the 1st quarter worth about $27,000. City State Bank bought a new position in shares of Halliburton in the 4th quarter valued at about $36,000. Finally, Rather & Kittrell Inc. bought a new position in shares of Halliburton in the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 79.17% 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.

Read More

Get a free copy of the Zacks research report on Halliburton (HAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.