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Schlumberger (SLB) Gains As Market Dips: What You Should Know
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Schlumberger (SLB - Free Report) closed at $58.61 in the latest trading session, marking a +1.16% move from the prior day. This move outpaced the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the world's largest oilfield services company had lost 3.63% over the past month, lagging the Oils-Energy sector's loss of 1.79% and outpacing the S&P 500's loss of 4.93% 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%. Meanwhile, our latest consensus estimate is calling for revenue of $8.33 billion, up 11.44% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for Schlumberger. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Schlumberger is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 19.45. For comparison, its industry has an average Forward P/E of 19.14, which means Schlumberger is trading at a premium to the group.
Investors should also note that SLB has a PEG ratio of 0.73 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Schlumberger (SLB) Gains As Market Dips: What You Should Know
Schlumberger (SLB - Free Report) closed at $58.61 in the latest trading session, marking a +1.16% move from the prior day. This move outpaced the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the world's largest oilfield services company had lost 3.63% over the past month, lagging the Oils-Energy sector's loss of 1.79% and outpacing the S&P 500's loss of 4.93% 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%. Meanwhile, our latest consensus estimate is calling for revenue of $8.33 billion, up 11.44% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for Schlumberger. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Schlumberger is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 19.45. For comparison, its industry has an average Forward P/E of 19.14, which means Schlumberger is trading at a premium to the group.
Investors should also note that SLB has a PEG ratio of 0.73 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Field Services stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.