Halliburton Company Q4 Profit Retreats 87%

Posted January 26, 2017

Halliburton's (NYSE:HAL) share price declined sharply after reporting lower than expected growth in revenue for the final quarter of FY2016. As a proof of the recovery, Halliburton returned to operating profitability in the region, while garnering a larger market share and improving margins by an impressive 65%. Excluding non-recurring items, adjusted earnings per share were 4 cents, above the FactSet consensus of 2 cents. Eleven analysts surveyed by Zacks expected $4.08 billion.

During the quarter, Halliburton took a $53 million loss on the devaluation of the Egyptian pound and a separate $54 million charge to settle a 14-year-old securities fraud class action lawsuit that had gone to the U.S. Supreme Court. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company's stock worth $103,000 after buying an additional 772 shares in the last quarter. It reported an operating loss of US$6.8bn, up from US$165mln in the prior year. In the previous year's fourth quarter, the company posted $1.31 per share in earnings and $6.34 billion in revenue.

Halliburton Company (NYSE:HAL) has a market capitalization of 47.37 Billion. Currently, the stock has a 1 Year Price Target of $62.08. Now analyst have an average price target of $61.37. Halliburton Company had a negative net margin of 36.28% and a negative return on equity of 0.15%.

Halliburton shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent.

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Halliburton's capital expenditure in the fourth quarter was $173 million, bringing the full-year spending to $798 million - much lower than the 2015 outgo of $2,184 million.

Halliburton Company (HAL) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Equipment & Services. Also, insider Joe D. Rainey sold 1,172 shares of the stock in a transaction that occurred on Wednesday, October 19th.

Several investment firms issued their expert ratings on Halliburton Company (NYSE:HAL) in which Bernstein Initiates Coverage On Halliburton Company (NYSE:HAL) to Outperform by settling a price target of $64 on 12/02/16. Waddell & Reed Financial Inc. now owns 18,587,275 shares of the oilfield services company's stock valued at $841,818,000 after buying an additional 1,981,618 shares in the last quarter. The company operates under two main segments: "Completion and Production, and Drilling and Evaluation". If a company has a PEG Ratio under one, it may be seen as undervalued.

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