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Schlumberger (SLB) Stock Moves -1.19%: What You Should Know
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In the latest trading session, Schlumberger (SLB - Free Report) closed at $59.13, marking a -1.19% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Coming into today, shares of the world's largest oilfield services company had gained 3.48% in the past month. In that same time, the Oils-Energy sector gained 4.06%, while the S&P 500 lost 1.43%.
Schlumberger will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2023. On that day, Schlumberger is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 22.22%. Our most recent consensus estimate is calling for quarterly revenue of $8.33 billion, up 11.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.98 per share and revenue of $32.92 billion. These totals would mark changes of +36.7% and +17.17%, respectively, from last year.
Any recent changes to analyst estimates for Schlumberger should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Schlumberger currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Schlumberger has a Forward P/E ratio of 20.05 right now. This represents a premium compared to its industry's average Forward P/E of 19.63.
Meanwhile, SLB's PEG ratio is currently 0.75. 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 industry currently had an average PEG ratio of 0.75 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Schlumberger (SLB) Stock Moves -1.19%: What You Should Know
In the latest trading session, Schlumberger (SLB - Free Report) closed at $59.13, marking a -1.19% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Coming into today, shares of the world's largest oilfield services company had gained 3.48% in the past month. In that same time, the Oils-Energy sector gained 4.06%, while the S&P 500 lost 1.43%.
Schlumberger will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2023. On that day, Schlumberger is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 22.22%. Our most recent consensus estimate is calling for quarterly revenue of $8.33 billion, up 11.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.98 per share and revenue of $32.92 billion. These totals would mark changes of +36.7% and +17.17%, respectively, from last year.
Any recent changes to analyst estimates for Schlumberger should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Schlumberger currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Schlumberger has a Forward P/E ratio of 20.05 right now. This represents a premium compared to its industry's average Forward P/E of 19.63.
Meanwhile, SLB's PEG ratio is currently 0.75. 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 industry currently had an average PEG ratio of 0.75 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.