$6.27 Billion in Sales Expected for Halliburton (HAL) This Quarter
Analysts expect Halliburton (NYSE:HAL) to report sales of $6.27 billion for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Halliburton’s earnings. The highest sales estimate is $6.43 billion and the lowest is $6.06 billion. Halliburton reported sales of $5.44 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 15.3%. The company is scheduled to issue its next quarterly earnings results before the market opens on Monday, October 22nd.
On average, analysts expect that Halliburton will report full year sales of $24.48 billion for the current year, with estimates ranging from $24.05 billion to $24.99 billion. For the next fiscal year, analysts expect that the company will report sales of $26.70 billion per share, with estimates ranging from $24.69 billion to $29.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Halliburton.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 23rd. The oilfield services company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.12 billion. Halliburton had a return on equity of 19.48% and a net margin of 0.42%. The company’s revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share.
In other news, Director Murry Gerber acquired 5,800 shares of Halliburton stock in a transaction on Thursday, July 26th. The stock was acquired at an average cost of $40.66 per share, with a total value of $235,828.00. Following the transaction, the director now owns 60,961 shares of the company’s stock, valued at approximately $2,478,674.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.
A number of hedge funds have recently modified their holdings of HAL. Avestar Capital LLC grew its position in shares of Halliburton by 1,159.6% during the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after acquiring an additional 2,180 shares during the period. Sun Life Financial INC grew its position in shares of Halliburton by 1,170.1% during the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after acquiring an additional 2,188 shares during the period. McKinley Carter Wealth Services Inc. bought a new position in shares of Halliburton during the 1st quarter valued at approximately $129,000. Squar Milner Financial Services LLC bought a new position in shares of Halliburton during the 2nd quarter valued at approximately $130,000. Finally, CNB Bank grew its position in shares of Halliburton by 110.5% during the 1st quarter. CNB Bank now owns 2,991 shares of the oilfield services company’s stock valued at $140,000 after acquiring an additional 1,570 shares during the period. 78.84% of the stock is owned by institutional investors and hedge funds.
NYSE:HAL opened at $38.43 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 1.18. The stock has a market cap of $32.86 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.01. Halliburton has a one year low of $35.75 and a one year high of $57.86.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, September 4th. Halliburton’s payout ratio is 59.02%.
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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