Jefferies Lowers EPS Estimates on Halliburton (HAL)

Jefferies is out with its report today on Halliburton HAL, lowering its EPS estimates. In a note to clients, Jefferies writes, "We are reducing our 1Q EPS estimate to $0.58 from $0.66, tweaking our 2Q estimate and lowering our 2011 estimate goes to $2.80 from $2.90. Our 2012 estimate remains $3.40. We are cutting our 1Q11 estimate to more accurately account for year-end seasonal factors, weather and geopolitical headwinds in North Africa and the Middle East. In recent years, HAL's international operating income has declined anywhere between 11-33% (roughly $0.05-$0.08 per share) due to seasonal declines in Landmark and completion tool sales and weather." At the time of posting, shares of HAL were trading pre-market at $44.80, up 1.38% from Friday's close.