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Schlumberger (SLB) Stock Sinks As Market Gains: What You Should Know
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Schlumberger (SLB - Free Report) closed at $57.94 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the world's largest oilfield services company had lost 3.03% over the past month, lagging the Oils-Energy sector's gain of 2.22% and outpacing the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Schlumberger as it approaches its next earnings report date. This is expected to be October 20, 2023. In that report, analysts expect Schlumberger to post earnings of $0.77 per share. This would mark 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.
SLB's full-year Zacks Consensus Estimates are calling for earnings of $2.98 per share and revenue of $32.92 billion. These results would represent year-over-year changes of +36.7% and +17.17%, respectively.
It is also important to note the recent changes to analyst estimates for Schlumberger. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Schlumberger is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 19.54. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 19.54.
Also, we should mention that SLB has a PEG ratio of 0.74. 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 0.74 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 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Schlumberger (SLB) Stock Sinks As Market Gains: What You Should Know
Schlumberger (SLB - Free Report) closed at $57.94 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the world's largest oilfield services company had lost 3.03% over the past month, lagging the Oils-Energy sector's gain of 2.22% and outpacing the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Schlumberger as it approaches its next earnings report date. This is expected to be October 20, 2023. In that report, analysts expect Schlumberger to post earnings of $0.77 per share. This would mark 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.
SLB's full-year Zacks Consensus Estimates are calling for earnings of $2.98 per share and revenue of $32.92 billion. These results would represent year-over-year changes of +36.7% and +17.17%, respectively.
It is also important to note the recent changes to analyst estimates for Schlumberger. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Schlumberger is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 19.54. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 19.54.
Also, we should mention that SLB has a PEG ratio of 0.74. 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 0.74 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 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.