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Company Update: Halliburton Company (NYSE:HAL) – EU regulators set to warn Halliburton on Baker Hughes deal: sources

[Reuters] – European Union antitrust regulators are set to warn U.S. oil industry services group Halliburton Co (HAL.N) that its plan to buy Baker Hughes (BHI.N) will hurt competition, two people familiar with the matter said on Wednesday. The move will add to Halliburton’s woes after the U.S. Justice Department filed a lawsuit this month to stop the deal because the combined company would only compete with Schlumberger NV (SLB.N) in 20 business lines in the global well drilling and oil industry construction services industry. The warning in the form of a so-called statement of objections from the European Commission could come as soon as next week, the people said. Read more on this. Halliburton Company (HAL) , with a current market cap of $35.02B, opened at $39.59. Today’s price range has been between $39.53 and $40.79 per share with its 52-week range being $27.64 to $50.20. Priced at 160.16x this year’s forecasted earnings, HAL shares are relatively expensive compared to the industry’s -1.75x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.72 per share annually in dividends, yielding 1.88%. In a review of the consensus earnings estimate this quarter, 34 sell-side analysts are looking at $0.04 per share, which would be $0.45 worse than the year-ago quarter and a $0.11 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.25 would be a $1.31 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.18 Billion. If reported, that would be a 40.71% decrease over the year-ago quarter. Recently, Nomura Initiated HAL at Buy (Apr 8, 2016). Previously, DA Davidson Initiated HAL at to Buy. Given all the information above, we should disclose to readers that the average price target is $42.27, which is 6.77% above than it opened this morning. See more in (NYSE:HAL) Similar Articles: Company Update (NYSE:HAL): EU regulators resume scrutiny of Halliburton, Baker Hughes deal 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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