FY2019 Earnings Forecast for Halliburton (HAL) Issued By B. Riley

Halliburton (NYSE:HAL) – Stock analysts at B. Riley cut their FY2019 earnings per share (EPS) estimates for shares of Halliburton in a research report issued to clients and investors on Wednesday, October 24th. B. Riley analyst T. Curran now forecasts that the oilfield services company will earn $2.27 per share for the year, down from their previous forecast of $2.65. B. Riley has a “Buy” rating and a $51.00 price target on the stock.

A number of other brokerages have also commented on HAL. Morgan Stanley reissued a “buy” rating on shares of Halliburton in a report on Tuesday, October 23rd. Royal Bank of Canada set a $56.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, October 22nd. Raymond James decreased their price objective on shares of Halliburton from $59.00 to $55.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 11th. Societe Generale set a $42.00 price objective on shares of Halliburton and gave the stock a “hold” rating in a report on Monday, October 22nd. Finally, Credit Suisse Group set a $52.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.60.

Shares of NYSE:HAL opened at $35.06 on Monday. Halliburton has a 12 month low of $33.73 and a 12 month high of $57.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.73 and a current ratio of 2.31. The stock has a market cap of $30.92 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 0.95 and a beta of 1.01.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 13.4% on a year-over-year basis.

In other Halliburton news, insider James S. Brown sold 15,989 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.53, for a total transaction of $648,034.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Several large investors have recently made changes to their positions in HAL. WINTON GROUP Ltd raised its position in shares of Halliburton by 93.2% in the 1st quarter. WINTON GROUP Ltd now owns 12,388 shares of the oilfield services company’s stock valued at $581,000 after acquiring an additional 5,976 shares during the period. Brown Advisory Inc. raised its position in shares of Halliburton by 171.4% in the 1st quarter. Brown Advisory Inc. now owns 148,561 shares of the oilfield services company’s stock valued at $6,973,000 after acquiring an additional 93,821 shares during the period. Park National Corp OH raised its position in shares of Halliburton by 5.8% in the 2nd quarter. Park National Corp OH now owns 123,263 shares of the oilfield services company’s stock valued at $5,554,000 after acquiring an additional 6,809 shares during the period. Washington Trust Bank raised its position in shares of Halliburton by 2.2% in the 2nd quarter. Washington Trust Bank now owns 80,995 shares of the oilfield services company’s stock valued at $3,650,000 after acquiring an additional 1,777 shares during the period. Finally, DnB Asset Management AS raised its position in shares of Halliburton by 27.3% in the 2nd quarter. DnB Asset Management AS now owns 142,551 shares of the oilfield services company’s stock valued at $6,423,000 after acquiring an additional 30,600 shares during the period. Institutional investors and hedge funds own 78.85% of the company’s stock.

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.

Featured Story: Asset Allocation, Balancing Your Investments

Earnings History and Estimates for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply