Halliburton (HAL) Expected to Post Quarterly Sales of $5.59 Billion

Brokerages expect Halliburton (NYSE:HAL) to post sales of $5.59 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Halliburton’s earnings. The lowest sales estimate is $5.48 billion and the highest is $6.09 billion. Halliburton reported sales of $5.74 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The firm is expected to report its next quarterly earnings results on Monday, April 22nd.

According to Zacks, analysts expect that Halliburton will report full year sales of $24.20 billion for the current fiscal year, with estimates ranging from $22.87 billion to $27.61 billion. For the next year, analysts forecast that the business will report sales of $27.11 billion, with estimates ranging from $24.02 billion to $30.60 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Halliburton.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, January 22nd. The oilfield services company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Halliburton had a return on equity of 18.57% and a net margin of 6.90%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue was down .1% on a year-over-year basis.

Several equities research analysts recently commented on HAL shares. Zacks Investment Research lowered Halliburton from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Wells Fargo & Co restated a “buy” rating on shares of Halliburton in a research report on Sunday, January 6th. UBS Group set a $40.00 target price on Halliburton and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Citigroup set a $45.00 target price on Halliburton and gave the company a “buy” rating in a research report on Friday, November 30th. Finally, Cowen upgraded Halliburton from a “market perform” rating to an “outperform” rating and cut their target price for the company from $45.00 to $35.00 in a research report on Thursday, January 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. Halliburton has a consensus rating of “Buy” and a consensus target price of $45.65.

In related news, VP Anne L. Beaty sold 2,548 shares of Halliburton stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $29.48, for a total transaction of $75,115.04. Following the completion of the sale, the vice president now owns 56,663 shares of the company’s stock, valued at $1,670,425.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Anne L. Beaty sold 1,300 shares of Halliburton stock in a transaction on Monday, January 7th. The shares were sold at an average price of $28.50, for a total value of $37,050.00. Following the sale, the vice president now directly owns 58,848 shares of the company’s stock, valued at approximately $1,677,168. The disclosure for this sale can be found here. Insiders sold 11,577 shares of company stock valued at $360,700 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Essex Savings Bank acquired a new stake in shares of Halliburton in the fourth quarter worth approximately $27,000. CX Institutional acquired a new stake in shares of Halliburton in the fourth quarter worth approximately $30,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Halliburton in the fourth quarter worth approximately $38,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Halliburton in the fourth quarter worth approximately $40,000. Finally, CKW Financial Group acquired a new stake in shares of Halliburton in the fourth quarter worth approximately $40,000. Institutional investors own 78.00% of the company’s stock.

Shares of Halliburton stock opened at $30.84 on Wednesday. Halliburton has a one year low of $24.70 and a one year high of $54.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.68 and a current ratio of 2.30. The stock has a market cap of $26.46 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27.

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 bonding the well, well casing, and casing equipment.

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