Halliburton (HAL) Stocks Falls as Analysts Forecast Weak Q2 Results

Halliburton (HAL) is scheduled to report 2016 second-quarter earnings before tomorrow's market open.
By Rachel Graf ,

NEW YORK (TheStreet) -- Halliburton (HAL) - Get Report  stock is slumping 1.36% to $44.99 in mid-afternoon trading on Tuesday as analysts expect the company to report a year-over-year decline in its financial results for the second quarter, due out before tomorrow's opening bell. 

Analysts surveyed by Thomson Reuters are looking for an adjusted loss of 19 cents per share on revenues of $3.752 billion for the most recent period.

Last year the oilfield services company reported adjusted earnings of 44 cents per share on $5.919 billion in revenue for the 2015 second quarter.

Additionally, Societe Generale downgraded shares earlier today to "hold" from "buy," writing that valuation is beginning to reflect an unrealistic North American recovery, the Fly reports. 

The firm cut its price target to $46 from $50 on the stock. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Halliburton's strengths such as its solid stock price performance are countered by weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.

You can view the full analysis from the report here: HAL

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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