Halliburton Company (NYSE:HAL) to Post Q4 2017 Earnings of $0.47 Per Share, SunTrust Banks Forecasts
Halliburton Company (NYSE:HAL) – Stock analysts at SunTrust Banks lowered their Q4 2017 earnings per share estimates for shares of Halliburton in a report issued on Tuesday. SunTrust Banks analyst K. Sill now expects that the oilfield services company will earn $0.47 per share for the quarter, down from their previous forecast of $0.49. SunTrust Banks also issued estimates for Halliburton’s Q1 2018 earnings at $0.41 EPS.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Halliburton Company (NYSE:HAL) to Post Q4 2017 Earnings of $0.47 Per Share, SunTrust Banks Forecasts” was reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/07/26/halliburton-company-nysehal-to-post-q4-2017-earnings-of-0-47-per-share-suntrust-banks-forecasts.html.
HAL has been the topic of a number of other research reports. HSBC Holdings plc restated a “buy” rating and issued a $62.00 price target (down previously from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC restated an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. Guggenheim cut Halliburton from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Zacks Investment Research cut Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded Halliburton from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $59.40.
Halliburton (NYSE HAL) traded up 2.32% during midday trading on Wednesday, hitting $43.68. 5,285,690 shares of the stock traded hands. The stock’s market capitalization is $37.91 billion. Halliburton has a 12-month low of $40.12 and a 12-month high of $58.78. The firm’s 50 day moving average is $43.55 and its 200-day moving average is $48.99.
Several hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Halliburton during the first quarter valued at $100,000. Perigon Wealth Management LLC boosted its stake in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares during the last quarter. Ledyard National Bank boosted its stake in Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after buying an additional 150 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Halliburton by 1.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,879 shares of the oilfield services company’s stock valued at $142,000 after buying an additional 35 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director William E. Albrecht acquired 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $46.33 per share, with a total value of $370,640.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at approximately $370,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%. Halliburton’s dividend payout ratio (DPR) is -423.50%.
Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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