$5.33 Billion in Sales Expected for Halliburton Company (HAL) This Quarter
Equities analysts expect that Halliburton Company (NYSE:HAL) will post sales of $5.33 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Halliburton’s earnings. The lowest sales estimate is $5.17 billion and the highest is $5.42 billion. Halliburton reported sales of $3.83 billion in the same quarter last year, which would suggest a positive year over year growth rate of 39.2%. The firm is expected to announce its next earnings results before the market opens on Monday, October 23rd.
According to Zacks, analysts expect that Halliburton will report full-year sales of $5.33 billion for the current year, with estimates ranging from $19.47 billion to $20.50 billion. For the next fiscal year, analysts expect that the business will report sales of $23.58 billion per share, with estimates ranging from $21.57 billion to $26.34 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Halliburton.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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 firm posted ($0.14) EPS. The firm’s revenue was up 29.3% compared to the same quarter last year.
Several equities analysts have commented on HAL shares. TheStreet lowered shares of Halliburton from a “c-” rating to a “d+” rating in a research report on Thursday, June 29th. Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $50.00 in a research report on Thursday, July 20th. BidaskClub lowered shares of Halliburton from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. FBR & Co lowered their price objective on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Credit Suisse Group set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $58.74.
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In other news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Fund Evaluation Group LLC boosted its holdings in shares of Halliburton by 0.4% in the 1st quarter. Fund Evaluation Group LLC now owns 4,406 shares of the oilfield services company’s stock valued at $217,000 after buying an additional 16 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Halliburton by 0.8% in the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after purchasing an additional 17 shares in the last quarter. Comerica Securities Inc. boosted its stake in Halliburton by 0.3% in the 2nd quarter. Comerica Securities Inc. now owns 6,606 shares of the oilfield services company’s stock worth $282,000 after purchasing an additional 18 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in Halliburton by 0.4% in the 2nd quarter. Appleton Partners Inc. MA now owns 5,158 shares of the oilfield services company’s stock worth $220,000 after purchasing an additional 21 shares in the last quarter. Finally, Hanson McClain Inc. boosted its stake in Halliburton by 0.8% in the 1st quarter. Hanson McClain Inc. now owns 4,513 shares of the oilfield services company’s stock worth $222,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.
Shares of Halliburton (NYSE HAL) opened at 40.29 on Monday. The company’s market capitalization is $35.12 billion. Halliburton has a 12-month low of $38.18 and a 12-month high of $58.78. The stock’s 50 day moving average is $40.63 and its 200-day moving average is $45.49.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio is currently -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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