Schlumberger (SLB) Stock Dips While Market Gains: Key Facts
In the latest market close, Schlumberger (SLB) reached $43.41, with a -1.5% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.15%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.17%.
Coming into today, shares of the world's largest oilfield services company had lost 8.11% in the past month. In that same time, the Oils-Energy sector lost 1.23%, while the S&P 500 gained 3.2%.
Investors will be eagerly watching for the performance of Schlumberger in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.83, marking a 15.28% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.07 billion, reflecting a 12.03% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.51 per share and a revenue of $37.18 billion, representing changes of +17.79% and +12.21%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Schlumberger currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Schlumberger is presently being traded at a Forward P/E ratio of 12.56. This indicates a discount in contrast to its industry's Forward P/E of 16.5.
Also, we should mention that SLB has a PEG ratio of 0.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Field Services industry stood at 0.88 at the close of the market yesterday.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Schlumberger Limited (SLB) : Free Stock Analysis Report
