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Schlumberger (SLB) Outpaces Stock Market Gains: What You Should Know
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Schlumberger (SLB - Free Report) closed the most recent trading day at $49.12, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the world's largest oilfield services company had gained 7.76% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Investors will be hoping for strength from Schlumberger as it approaches its next earnings release, which is expected to be July 21, 2023. In that report, analysts expect Schlumberger to post earnings of $0.71 per share. This would mark year-over-year growth of 42%. Meanwhile, our latest consensus estimate is calling for revenue of $8.26 billion, up 21.9% from the prior-year quarter.
SLB's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $33.36 billion. These results would represent year-over-year changes of +38.07% and +18.74%, respectively.
Any recent changes to analyst estimates for Schlumberger should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.17% lower within the past month. Schlumberger is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 16.12. This represents a premium compared to its industry's average Forward P/E of 14.61.
Also, we should mention that SLB has a PEG ratio of 0.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.65 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SLB in the coming trading sessions, be sure to utilize Zacks.com.
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Schlumberger (SLB) Outpaces Stock Market Gains: What You Should Know
Schlumberger (SLB - Free Report) closed the most recent trading day at $49.12, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the world's largest oilfield services company had gained 7.76% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Investors will be hoping for strength from Schlumberger as it approaches its next earnings release, which is expected to be July 21, 2023. In that report, analysts expect Schlumberger to post earnings of $0.71 per share. This would mark year-over-year growth of 42%. Meanwhile, our latest consensus estimate is calling for revenue of $8.26 billion, up 21.9% from the prior-year quarter.
SLB's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $33.36 billion. These results would represent year-over-year changes of +38.07% and +18.74%, respectively.
Any recent changes to analyst estimates for Schlumberger should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.17% lower within the past month. Schlumberger is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 16.12. This represents a premium compared to its industry's average Forward P/E of 14.61.
Also, we should mention that SLB has a PEG ratio of 0.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Field Services was holding an average PEG ratio of 0.65 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SLB in the coming trading sessions, be sure to utilize Zacks.com.