Halliburton Beats Q4 Profit Forecast As North America Recovers

Halliburton Beats Q4 Profit Forecast As North America Recovers

Thanks to falling oil prices and a fourth quarter earnings report from Halliburton (HAL), shares of the VanEck Vectors Oil Services ETF (OIH) have fallen more than 2.5% in recent market action.

Overall, Halliburton's net loss for 4QFY16 increased to $149 million, or 17 cents per share, as opposed to $28 million or three cents during the same period previous year. Excluding non-recurring items, adjusted earnings per share were 4 cents, above the FactSet consensus of 2 cents. The High Revenue estimate is predicted as 4.22 Billion, while the Low Revenue Estimate prediction stands at 3.92 Billion.

Halliburton, the world's second largest oil field services company, reported on Monday dramatic losses following the failed bid to take over rival Baker Hughes. The customers in the USA and Canada has boosted the number of oil and natural gas drilling rigs 19 percent in the last three months of the year.

For the full year, Halliburton reported revenue of $15.9 billion, a 33% decline from 2015. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $4.06 billion. For HAL, the company now has $3.29 Billion of cash on the books, which is offset by $152 Million current liabilities. Lemoine now forecasts that the firm will post earnings per share of $0.48 for the quarter, up from their prior forecast of $0.47. Analysts polled by Thomson Reuters have a current consensus target on company stock of $62.980.

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The stock now has its Annual Dividend of $0.72 and an annual Dividend Yield of 1.31 Percent. Capital One Financial Corporation also issued estimates for Halliburton Company's Q4 2017 earnings at $0.63 EPS and FY2017 earnings at $1.54 EPS. Return on Equity (ROE) stands at -47.1% and Return on Investment (ROI) of 0.4 percent.

The Company has 862.00 million shares outstanding and 861.16 million shares were floated in market.

38 analysts projected Price Targets for Halliburton Company. Halliburton is expected to swing to a profit of $1.08 a share this year, according the average of 46 analysts' estimates compiled by Bloomberg. The company rocked its 52-Week High of $56.98 on Jan 6, 2017 and touched its 52-Week Low of $27.96 on Feb 11, 2016. The shares were sold at an average price of $50.23, for a total transaction of $1,163,427.26. The brokerage now has a "buy" rating on the oilfield services company's stock. This market share improvement has continued in the fourth quarter as the company outgrew the primary competitor in North America, Latin America and the Eastern Hemisphere.

Halliburton's top line from the North American region increased 8.7% on a sequential basis to $1.8 billion - equivalent to 44.8% of the total revenue. The company has Beta Value of 1.02 and ATR value of 1.12.

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