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Stock Update (NYSE:HAL): Halliburton says it cut 6,000 jobs in first quarter, delays earnings call

[Reuters] – Halliburton also postponed its earnings conference call to May 3 from April 25 to accommodate the April 30 deadline to close its acquisition of Baker Hughes Inc, the company said in a statement after the U.S. market closed on Friday. Baker Hughes is due to report on April 27, but has not held conference calls since the merger was announced in 2014. While the deal will help Halliburton narrow the gap with market leader Schlumberger Ltd, it faces stiff regulatory hurdles. Read more on this. Halliburton Company (HAL) , currently valued at $35.06B, opened this morning at $40.14. Looking at today’s trading action, the company’s one day range from $39.98 to $41.37 and has traded between $27.64 and $50.20 over the past year. Halliburton (HAL) shares are currently priced at 183.32x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -1.51x 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 1.78%. 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. The full-year EPS estimate is $0.22 which would be a $1.34 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.16 Billion. If realized, that would be a 40.99% decrease over the year-ago quarter. In terms of ratings, Nomura Initiated HAL at Buy (Apr 8, 2016). Previously, DA Davidson Initiated HAL at to Buy. Investors should keep in mind is that the average price target is $42.57, which is 6.05% above where the stock opened this morning. See more in (NYSE:HAL) Similar Articles: Stock Update: Halliburton Company (NYSE:HAL) – Halliburton to slash 5,000 more jobs amid oil slump Market Update: Halliburton Company (NYSE:HAL) – Halliburton says no deal yet with regulators on size of asset sales Stock Update: Halliburton Company (NYSE:HAL) – Halliburton 2015 Fourth Quarter Conference Call
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