Halliburton Faces Challenges Ahead of Earnings Reporting Date

A recent report highlights Halliburton's underperformance in the stock market, with a projected EPS decline and a low Zacks Rank. Investors await earnings results on November 7, 2024, amid disappointing past month trends.

Date: 19-09-2024

AI Rating: 4

Halliburton (HAL) has recently closed at $29.10, reflecting a -0.68% change from the previous day, falling behind the S&P 500's loss of 0.29%. Over the past month, its shares have decreased by 5.73%, which is significantly worse than its sector's performance.

Looking ahead, Halliburton's upcoming earnings report on November 7, 2024, is drawing attention, particularly since it is expected to reveal earnings of $0.76 per share, representing a 3.8% decline year-over-year. In terms of revenue, the forecast stands at $5.84 billion, up only 0.55% from the prior year. For the full year, earnings projection is $3.14 per share with a revenue estimate of $23.46 billion, marking growths of 0.32% and 1.9%, respectively.

The Zacks Rank of Halliburton currently rests at #4 (Sell), indicating a negative outlook among analysts. This aligns with the 0.21% increase in the consensus EPS estimate in the last month, hinting at slight optimism, though it still sits low on the ranking.

From a valuation standpoint, Halliburton's Forward P/E ratio is 9.32, noticeably less than the industry average of 18.54, suggesting that the stock could be considered undervalued.

The PEG ratio of 1 aligns closely with the industry average of 0.95, suggesting that earnings growth expectations are in line with stock price expectations.

In summary, despite some hopeful signs in revenue growth and valuation, the general sentiment surrounding Halliburton's upcoming performance reflects concerns, with earnings declines and a low Zacks Rank indicating potential challenges ahead for its stock price.

Stocks: HAL