Halliburton (HAL) Expected to Post Quarterly Sales of $5.97 Billion
Brokerages predict that Halliburton (NYSE:HAL) will report $5.97 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Halliburton’s earnings, with estimates ranging from $5.93 billion to $6.02 billion. Halliburton reported sales of $6.15 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.9%. The company is scheduled to issue its next earnings results on Monday, July 22nd.
On average, analysts expect that Halliburton will report full-year sales of $24.37 billion for the current fiscal year, with estimates ranging from $23.85 billion to $24.87 billion. For the next fiscal year, analysts forecast that the company will post sales of $27.03 billion, with estimates ranging from $25.39 billion to $29.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Halliburton.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period in the prior year, the business earned $0.41 EPS. Halliburton’s revenue for the quarter was down .1% compared to the same quarter last year.
NYSE HAL traded down $0.85 during trading hours on Wednesday, reaching $24.74. 12,961,298 shares of the company’s stock were exchanged, compared to its average volume of 9,835,183. Halliburton has a one year low of $24.33 and a one year high of $52.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.57 and a current ratio of 2.22. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.37 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.91%. Halliburton’s dividend payout ratio is currently 37.89%.
In other news, CFO Lance Loeffler sold 5,926 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total transaction of $168,002.10. Following the completion of the transaction, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group boosted its holdings in shares of Halliburton by 49.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 11,964 shares of the oilfield services company’s stock valued at $351,000 after buying an additional 3,984 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Halliburton in the 1st quarter valued at approximately $339,000. Allstate Corp acquired a new stake in shares of Halliburton in the 1st quarter valued at approximately $674,000. Nordea Investment Management AB boosted its holdings in shares of Halliburton by 1.7% in the 1st quarter. Nordea Investment Management AB now owns 323,676 shares of the oilfield services company’s stock valued at $9,485,000 after buying an additional 5,338 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in shares of Halliburton in the 1st quarter valued at approximately $520,000. 81.68% of the stock is owned by institutional investors.
Halliburton Company Profile
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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