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Schlumberger (SLB) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Schlumberger (SLB - Free Report) closed at $55.22, marking a +0.75% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
The world's largest oilfield services company's stock has climbed by 11.06% in the past month, exceeding the Oils-Energy sector's gain of 7.33% and the S&P 500's gain of 3.32%.
Analysts and investors alike will be keeping a close eye on the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to go public on April 19, 2024. In that report, analysts expect Schlumberger to post earnings of $0.75 per share. This would mark year-over-year growth of 19.05%. Simultaneously, our latest consensus estimate expects the revenue to be $8.67 billion, showing a 12.06% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.54 per share and a revenue of $37.29 billion, signifying shifts of +18.79% and +12.54%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Schlumberger. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Schlumberger is currently a Zacks Rank #3 (Hold).
In terms of valuation, Schlumberger is currently trading at a Forward P/E ratio of 15.48. Its industry sports an average Forward P/E of 16.78, so one might conclude that Schlumberger is trading at a discount comparatively.
We can additionally observe that SLB currently boasts a PEG ratio of 0.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Field Services was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 176, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Schlumberger (SLB) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Schlumberger (SLB - Free Report) closed at $55.22, marking a +0.75% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
The world's largest oilfield services company's stock has climbed by 11.06% in the past month, exceeding the Oils-Energy sector's gain of 7.33% and the S&P 500's gain of 3.32%.
Analysts and investors alike will be keeping a close eye on the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to go public on April 19, 2024. In that report, analysts expect Schlumberger to post earnings of $0.75 per share. This would mark year-over-year growth of 19.05%. Simultaneously, our latest consensus estimate expects the revenue to be $8.67 billion, showing a 12.06% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.54 per share and a revenue of $37.29 billion, signifying shifts of +18.79% and +12.54%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Schlumberger. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Schlumberger is currently a Zacks Rank #3 (Hold).
In terms of valuation, Schlumberger is currently trading at a Forward P/E ratio of 15.48. Its industry sports an average Forward P/E of 16.78, so one might conclude that Schlumberger is trading at a discount comparatively.
We can additionally observe that SLB currently boasts a PEG ratio of 0.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Field Services was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 176, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.