What Does Wall Street Forecast for Halliburton after Q1 Earnings?
Halliburton's Q1 Earnings Beat Estimates, but What about BHI?
Wall Street’s forecasts for Halliburton
In this article, we’ll look at Wall Street analysts’ forecasts for Halliburton’s (HAL) shares following its fiscal 1Q16 earnings release.
Consensus rating for Halliburton
Approximately 79% of analysts tracking Halliburton rate it a “buy” or some equivalent. Approximately 16% rate the company a “hold” or an equivalent while the rest recommend a “sell.” Halliburton is 0.4% of the iShares S&P 500 Value ETF (IVE).
In comparison, approximately 43% of analysts tracking RPC (RES) rate it a “buy” or some equivalent, and approximately 43% have rated it a “hold” while the rest rate it a “sell.”
Analysts’ recommendations for HAL
When it comes to individual recommendations, Scotia Howard Weil, an energy investment and research firm, gave Halliburton a target price of $37—one of its lowest target prices—following the fiscal 1Q16 earnings. Halliburton currently trades near $40.4, implying a ~-8.5% return for the next 12 months. Raymond James, another independent research firm, gave HAL a one-year target price of $51, one of its highest target prices. This target implies a 26% return over the next year.
Among the global investment banks, Piper Jaffray gave Halliburton a one-year target price of $48, which implies a ~19% return over the next 12 months.
Analysts’ target prices for HAL
Following the 1Q16 financial results, while the highest target price for HAL is $51, the lowest is $37. The median target price surveyed among sell-side analysts for HAL is ~$44.3. HAL is currently trading at ~$40.4, implying a ~9.5% upside at its median price.
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