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Schlumberger (SLB) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Schlumberger (SLB - Free Report) ending at $54, denoting a -0.37% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.
The world's largest oilfield services company's shares have seen an increase of 3.1% over the last month, not keeping up with the Oils-Energy sector's gain of 8.96% and outstripping the S&P 500's gain of 0.8%.
The upcoming earnings release of Schlumberger will be of great interest to investors. The company's earnings report is expected on April 19, 2024. The company is predicted to post an EPS of $0.75, indicating a 19.05% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.69 billion, indicating a 12.37% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.53 per share and a revenue of $37.31 billion, demonstrating changes of +18.46% and +12.6%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Schlumberger. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 15.38. This signifies a discount in comparison to the average Forward P/E of 17.99 for its industry.
Meanwhile, SLB's PEG ratio is currently 0.98. 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. SLB's industry had an average PEG ratio of 1.03 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 190, this industry ranks in the bottom 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Schlumberger (SLB) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Schlumberger (SLB - Free Report) ending at $54, denoting a -0.37% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.
The world's largest oilfield services company's shares have seen an increase of 3.1% over the last month, not keeping up with the Oils-Energy sector's gain of 8.96% and outstripping the S&P 500's gain of 0.8%.
The upcoming earnings release of Schlumberger will be of great interest to investors. The company's earnings report is expected on April 19, 2024. The company is predicted to post an EPS of $0.75, indicating a 19.05% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.69 billion, indicating a 12.37% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.53 per share and a revenue of $37.31 billion, demonstrating changes of +18.46% and +12.6%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Schlumberger. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 15.38. This signifies a discount in comparison to the average Forward P/E of 17.99 for its industry.
Meanwhile, SLB's PEG ratio is currently 0.98. 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. SLB's industry had an average PEG ratio of 1.03 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 190, this industry ranks in the bottom 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.