$3.33 Billion in Sales Expected for Halliburton (NYSE:HAL) This Quarter


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Analysts forecast that Halliburton (NYSE:HAL) will report $3.33 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Halliburton’s earnings. The highest sales estimate is $3.37 billion and the lowest is $3.25 billion. Halliburton posted sales of $5.04 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 33.9%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, April 21st.

According to Zacks, analysts expect that Halliburton will report full year sales of $14.15 billion for the current financial year, with estimates ranging from $13.53 billion to $14.62 billion. For the next year, analysts anticipate that the firm will post sales of $16.05 billion, with estimates ranging from $15.29 billion to $16.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Halliburton.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, January 18th. The oilfield services company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Halliburton had a negative net margin of 26.60% and a positive return on equity of 11.10%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue was down 37.6% on a year-over-year basis.

Several research analysts recently commented on HAL shares. Morgan Stanley lifted their target price on shares of Halliburton from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 20th. Stephens upgraded shares of Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $25.00 in a report on Wednesday, January 20th. HSBC downgraded shares of Halliburton from a “hold” rating to a “reduce” rating and set a $14.20 price objective on the stock. in a report on Thursday, December 10th. Credit Suisse Group lifted their target price on shares of Halliburton from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, January 20th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and lifted their target price for the company from $13.50 to $24.00 in a research report on Tuesday, December 15th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.96.

Halliburton stock opened at $21.42 on Thursday. The company has a 50 day moving average price of $22.09 and a 200 day moving average price of $17.98. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of -4.31, a P/E/G ratio of 2.22 and a beta of 2.81. Halliburton has a 52 week low of $6.53 and a 52 week high of $24.74. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.64 and a current ratio of 2.30.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Wednesday, March 3rd were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Tuesday, March 2nd. Halliburton’s dividend payout ratio is 14.52%.

In other news, EVP Eric Carre sold 2,350 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $20.68, for a total transaction of $48,598.00. Following the sale, the executive vice president now directly owns 173,320 shares in the company, valued at $3,584,257.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Myrtle L. Jones sold 5,462 shares of the company’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $23.50, for a total value of $128,357.00. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of HAL. Hoover Financial Advisors Inc. purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $27,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $26,000. Crescent Capital Consulting LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $28,000. Prestige Wealth Management Group LLC boosted its stake in shares of Halliburton by 67.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,839 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 739 shares during the period. Finally, Veriti Management LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $35,000. Institutional investors own 75.37% of the company’s stock.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as well bonding and casing, as well as provides casing equipment.

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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