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Thursday, July 16, 2015

Halliburton Profit Expected to Fall

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 July 16:

Despite an expected dip in profit, analysts are generally optimistic about Halliburton as it prepares to reports its second-quarter earnings on Monday, July 20, 2015. The consensus earnings per share estimate is 29 cents per share.

Over the past month, the consensus estimate has dipped from 31 cents, but it’s still up from the consensus estimate of 27 cents three months ago. Analysts are projecting earnings of $1.37 per share for the fiscal year. A year after being $8.05 billion, analysts expect revenue to fall 28% year-over-year to $5.81 billion for the quarter. For the year, revenue is expected to come in at $24.45 billion.

A year-over-year drop in revenue in the first quarter ended a streak of revenue growth that had lasted three quarters.

Last quarter’s loss snapped a streak of earnings in the previous three quarters.

The majority of analysts (64%) rate Halliburton as a buy. This compares favorably to the analyst ratings of 10 similar companies, which average 53% buys.


Source: http://www.forbes.com/sites/narrativescience/2015/07/16/halliburton-profit-expected-to-fall/

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