SunTrust Banks Analysts Cut Earnings Estimates for Halliburton (HAL)

Halliburton (NYSE:HAL) – Stock analysts at SunTrust Banks decreased their Q1 2018 earnings per share estimates for Halliburton in a note issued to investors on Tuesday, April 3rd. SunTrust Banks analyst K. Sill now expects that the oilfield services company will earn $0.40 per share for the quarter, down from their previous estimate of $0.49. SunTrust Banks has a “Hold” rating and a $69.00 price objective on the stock. SunTrust Banks also issued estimates for Halliburton’s Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.64 EPS, FY2018 earnings at $2.36 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.80 EPS, Q4 2019 earnings at $1.03 EPS and FY2019 earnings at $3.45 EPS.

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Several other equities analysts have also recently issued reports on the company. Guggenheim upgraded Halliburton from a “neutral” rating to a “buy” rating in a research report on Monday, January 22nd. Piper Jaffray set a $52.00 price target on Halliburton and gave the company a “buy” rating in a research report on Thursday, December 14th. Wells Fargo reiterated an “outperform” rating and set a $56.00 price target (up from $51.00) on shares of Halliburton in a research report on Thursday, December 21st. Zacks Investment Research upgraded Halliburton from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, December 26th. Finally, Bank of America cut Halliburton from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. Halliburton has a consensus rating of “Buy” and an average target price of $58.70.

Shares of HAL stock opened at $47.00 on Friday. Halliburton has a 1 year low of $38.18 and a 1 year high of $57.86. The firm has a market cap of $41,715.70, a PE ratio of 38.52, a PEG ratio of 2.36 and a beta of 1.06. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.72 and a current ratio of 2.22.

Halliburton (NYSE:HAL) last announced its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFG Advisory LLC acquired a new position in shares of Halliburton in the 4th quarter worth $253,000. Calton & Associates Inc. purchased a new position in shares of Halliburton during the fourth quarter valued at $128,000. Cerebellum GP LLC purchased a new position in shares of Halliburton during the fourth quarter valued at $131,000. Icon Wealth Partners LLC purchased a new position in shares of Halliburton during the fourth quarter valued at $147,000. Finally, Nicolet Bankshares Inc. purchased a new position in shares of Halliburton during the fourth quarter valued at $193,000. Institutional investors and hedge funds own 80.26% of the company’s stock.

In related news, insider Timothy Mckeon sold 4,583 shares of Halliburton stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $54.95, for a total value of $251,835.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Anne L. Beaty sold 2,937 shares of Halliburton stock in a transaction on Monday, January 8th. The stock was sold at an average price of $51.57, for a total value of $151,461.09. Following the completion of the transaction, the vice president now owns 60,839 shares in the company, valued at $3,137,467.23. The disclosure for this sale can be found here. Insiders sold a total of 103,856 shares of company stock worth $5,609,578 over the last 90 days. Insiders own 0.46% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 6th. Halliburton’s payout ratio is 59.02%.

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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.

Earnings History and Estimates for Halliburton (NYSE:HAL)

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