FY2018 Earnings Estimate for Halliburton Issued By SunTrust Banks (HAL)
Halliburton (NYSE:HAL) – SunTrust Banks cut their FY2018 EPS estimates for Halliburton in a research note issued to investors on Wednesday, December 5th. SunTrust Banks analyst K. Sill now expects that the oilfield services company will post earnings of $1.86 per share for the year, down from their previous forecast of $1.88. SunTrust Banks also issued estimates for Halliburton’s Q4 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $1.91 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.72 EPS, Q3 2020 earnings at $0.84 EPS and FY2020 earnings at $3.08 EPS.
Several other analysts have also weighed in on the stock. Bank of America reiterated a “buy” rating and set a $48.00 target price (down previously from $52.00) on shares of Halliburton in a research note on Monday. Citigroup set a $45.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Friday, November 30th. Guggenheim set a $50.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Macquarie set a $40.00 price target on shares of Halliburton and gave the stock a “hold” rating in a research report on Tuesday, October 23rd. Finally, Credit Suisse Group set a $46.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $51.24.
Halliburton (NYSE:HAL) last released its earnings results on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Investment Partners LTD. bought a new position in Halliburton in the 3rd quarter valued at about $249,000. Avestar Capital LLC grew its position in Halliburton by 1,159.6% in the 2nd quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after buying an additional 2,180 shares in the last quarter. Sun Life Financial INC grew its position in Halliburton by 1,170.1% in the 2nd quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 2,188 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in Halliburton in the 3rd quarter valued at about $103,000. Finally, Whitener Capital Management Inc. bought a new position in Halliburton in the 3rd quarter valued at about $106,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.
In related news, insider James S. Brown sold 15,989 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Anne L. Beaty sold 7,200 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $32.33, for a total transaction of $232,776.00. Following the completion of the transaction, the vice president now owns 62,196 shares of the company’s stock, valued at approximately $2,010,796.68. The disclosure for this sale can be found here. Insiders sold a total of 24,399 shares of company stock valued at $924,648 in the last quarter. 0.54% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.42%. Halliburton’s dividend payout ratio is currently 59.02%.
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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