$0.38 Earnings Per Share Expected for Halliburton Company (HAL) This Quarter
Brokerages expect Halliburton Company (NYSE:HAL) to announce earnings of $0.38 per share for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Halliburton’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.35. Halliburton reported earnings of $0.01 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3,700%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, October 23rd.
According to Zacks, analysts expect that Halliburton will report full-year earnings of $1.12 per share for the current fiscal year, with EPS estimates ranging from $0.98 to $1.22. For the next fiscal year, analysts forecast that the company will report earnings of $2.14 per share, with EPS estimates ranging from $1.59 to $2.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Halliburton.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year.
A number of analysts recently commented on HAL shares. ValuEngine downgraded Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Barclays PLC reaffirmed an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. HSBC Holdings plc reaffirmed a “buy” rating and set a $62.00 price target (down from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Guggenheim downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research downgraded Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.74.
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In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Halliburton in the first quarter worth about $100,000. Perigon Wealth Management LLC increased its holdings in shares of Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares during the period. Ledyard National Bank increased its holdings in shares of Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares during the period. Bbva Compass Bancshares Inc. increased its holdings in shares of Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares during the period. Finally, Independent Portfolio Consultants Inc. increased its holdings in shares of Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares during the period. Hedge funds and other institutional investors own 79.53% of the company’s stock.
Shares of Halliburton (HAL) traded down 2.47% on Friday, hitting $40.29. The stock had a trading volume of 9,178,227 shares. The company has a 50-day moving average of $40.63 and a 200 day moving average of $45.49. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78. The company’s market capitalization is $35.12 billion.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is currently -423.50%.
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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