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Company Update: Halliburton Company (NYSE:HAL) – EU regulators to decide on Halliburton, Baker Hughes deal by July 11

[Reuters] – European Union antitrust enforcers have resumed their investigation into U.S. oilfield services provider Halliburton Co’s proposed takeover of Baker Hughes and will decide by July 11 whether to approve the $35 billion deal. The European Commission, which halted the investigation on Feb. 18, said it had received further information from both companies. “Once we received the information from the parties, we restarted the clock and set a new deadline,” Commission spokesman Ricardo Cardoso said. Read more on this. Halliburton Company (HAL) , valued at $29.60B, began trading this morning at $35.32. During today’s session, HAL traded between $34.34 to $35.51 with its 52-week range being $27.64 to $50.20. Halliburton (HAL) shares are currently priced at 67.62x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.97x earnings multiple for the same period. The company pays shareholders $0.72 per share annually in dividends, yielding 2.06%. Consensus earnings for the current quarter by the 32 sell-side analysts covering the stock is an estimate of $0.10 per share, which would be $0.39 worse than the year-ago quarter and a $0.08 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $0.53 is a $1.03 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.40 Billion. If reported, that would be a 37.59% decrease over the year-ago quarter. In terms of ratings, DA Davidson Initiated HAL at Buy (Feb 19, 2016). Previously, KLR Group upgraded HAL from Accumulate to Buy. Investors should keep in mind is that the average price target is $40.13, which is 13.62% above where the stock opened this morning. See more in (NYSE:HAL) Similar Articles: Market Update (NYSE:BHI): EU regulators to decide on Halliburton, Baker Hughes deal by July 11 Market Update (NYSE:HAL): Halliburton, Baker Hughes plan more divestitures for deal approval Stock Update: Baker Hughes Incorporated (NYSE:BHI) – Halliburton, Baker Hughes plan more divestitures for deal approval
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