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Market Update: Halliburton Company (NYSE:HAL) – U.S. Justice Dept will sue to stop Halliburton, Baker Hughes merger – source

[Reuters] – The U.S. Justice Department will file a lawsuit as soon as this week to stop oilfield services provider Halliburton Co from acquiring smaller rival Baker Hughes Inc, a source familiar with the matter said on Tuesday. The antitrust lawsuit could potentially scupper the deal that was first announced in November 2014 to combine the No. 2 and No. 3 oil services companies. Since then, oil prices have fallen by more than 55 percent. Read more on this. Halliburton Company (HAL) , valued at $29.53B, opened at $33.65. Looking at today’s trading action, the company’s one day range from $33.26 to $34.72 with a one year range of $27.64 to $50.20. Halliburton (HAL) shares are currently priced at 100.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.04x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $0.72 per share annually in dividends, yielding 2.05%. Consensus earnings for the current quarter by the 33 sell-side analysts covering the stock is an estimate of $0.07 per share, which would be $0.42 worse than the year-ago quarter and a $0.10 sequential decrease. The full-year EPS estimate is $0.34, which would be a $1.22 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.27 Billion. If reported, that would be a 39.43% decrease over the year-ago quarter. More recently, DA Davidson Initiated HAL at Buy (Feb 19, 2016). Previously, KLR Group upgraded HAL from Accumulate to Buy. The average price target for HAL shares by the analysts covering it is $41.03, which is 21.93% above where the stock opened. See more in (NYSE:HAL) Similar Articles: Stock Update: Baker Hughes Incorporated (NYSE:BHI) – U.S. Justice Dept will sue to stop Halliburton, Baker Hughes merger – source Market Update: Halliburton Company (NYSE:HAL) – U.S. sues ValueAct over Halliburton-Baker Hughes deal disclosures Company Update: Halliburton Company (NYSE:HAL) – EU regulators to decide on Halliburton, Baker Hughes deal by July 11
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