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Dial Back Expectations for Halliburton

Stocks in this article: SLBHALGS

While I do believe that the worst is over, we will get a better view of the company's overall direction when Halliburton reports its third-quarter earnings results Monday. We will also get confirmation as to whether these recent price targets are justified. The Street will be looking for earnings-per-share of 82 cents on revenue of $7.5 billion, which would represent revenue growth of 5.5%.

More importantly, after posting 14% growth in international markets in the July quarter, I want to see how well Halliburton is able to maintain that level of improvement. With roughly half of the company's business originating from North America, accounting for two-thirds of its profits), the importance of better global diversification can't be overstated.

Management understands the importance of establishing a larger footprint overseas. But so does Schlumberger and Baker Hughes. Having said all that, it's still tough to bet against Halliburton's strong position in things like production enhancements and offshore tools.

I'm not going to jump into this stock today, but I can see the appeal, especially since management recently announced a $3.3 billion stock buyback. Outside of all of that, the stock seems fairly valued.

At the time of publication, the author held no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Richard Saintvilus is a co-founder of StockSaints.com where he serves as CEO and editor-in-chief. After 20 years in the IT industry, including 5 years as a high school computer teacher, Saintvilus decided his second act would be as a stock analyst - bringing logic from an investor's point of view. His goal is to remove the complicated aspect of investing and present it to readers in a way that makes sense.

His background in engineering has provided him with strong analytical skills. That, along with 15 years of trading and investing, has given him the tools needed to assess equities and appraise value. Richard is a Warren Buffett disciple who bases investment decisions on the quality of a company's management, growth aspects, return on equity, and price-to-earnings ratio.

His work has been featured on CNBC, Yahoo! Finance, MSN Money, Forbes, Motley Fool and numerous other outlets.

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