Halliburton FY2024 EPS Forecast Reduced by Zacks Research

Halliburton (NYSE:HAL) – Zacks Research cut their FY2024 earnings estimates for Halliburton in a research report issued on Monday, December 23rd. Zacks Research analyst R. Department now forecasts that the oilfield services company will post earnings of $2.99 per share for the year, down from their prior forecast of $3.00. The consensus estimate for Halliburton’s current full-year earnings is $3.00 per share. Zacks Research also issued estimates for Halliburton’s Q4 2024 earnings at $0.70 EPS, Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.77 EPS, Q4 2025 earnings at $0.79 EPS, FY2025 earnings at $3.02 EPS, Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.90 EPS, Q3 2026 earnings at $0.84 EPS and FY2026 earnings at $3.26 EPS.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS.

Several other research firms also recently issued reports on HAL. The Goldman Sachs Group decreased their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. BMO Capital Markets decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Raymond James dropped their price objective on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 8th. Piper Sandler initiated coverage on Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, Jefferies Financial Group lowered their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Halliburton Stock Performance

Shares of NYSE HAL opened at $26.84 on Wednesday. The business’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $30.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 3.61 and a beta of 1.90.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.53%. Halliburton’s dividend payout ratio is currently 23.69%.

Hedge Funds Weigh In On Halliburton

A number of hedge funds have recently modified their holdings of the stock. Country Trust Bank acquired a new position in Halliburton during the third quarter worth $36,000. Continuum Advisory LLC grew its holdings in shares of Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton during the 3rd quarter worth about $44,000. Venturi Wealth Management LLC lifted its holdings in Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after purchasing an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 393 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.