Halliburton (NYSE:HAL) is expected to report Q1 earnings before the open on Wednesday, April 18, with a conference call scheduled for 9:00 am ET.
Analysts are looking for a profit of 86c on revenue of $6.80B. The consensus range is 75c-91c for EPS, and revenue of $6.38B-$7.36B, according to First Call. About a month ago, Halliburton's peer Baker Hughes (BHI) warned of an operating profit decline, as it said a shift away from natural gas drilling is negatively impacting its pressure pumping products and international trends are being negatively affected by seasonality, weather, and project delays.
Wells Fargo, which maintained its Outperform rating on Halliburton stock, said in a note to investors on March 26 that it reduced its valuation range on Halliburton after Baker Hughes' warning. Since that time, Halliburton has seen its shares downgraded to the equivalent of "Hold" ratings at Morgan Stanley, Howard Weil, and Raymond James. Over the last month of trading, Halliburton shares have declined over 5%, but the stock is up almost 2% in afternoon trading ahead of tomorrow's earnings report.