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Schlumberger (SLB) Stock Sinks As Market Gains: What You Should Know
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The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $53.03, reflecting a -1.21% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.14% for the day. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.16%.
Heading into today, shares of the world's largest oilfield services company had gained 2.62% over the past month, outpacing the Oils-Energy sector's gain of 2.24% and lagging the S&P 500's gain of 4.89% in that time.
The upcoming earnings release of Schlumberger will be of great interest to investors. The company's earnings report is expected on January 19, 2024. On that day, Schlumberger is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 18.31%. Meanwhile, the latest consensus estimate predicts the revenue to be $9 billion, indicating a 14.21% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.97 per share and a revenue of $33.12 billion, indicating changes of +36.24% and +17.91%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Schlumberger. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Schlumberger possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 18.09. This expresses no noticeable deviation compared to the average Forward P/E of 18.09 of its industry.
We can also see that SLB currently has a PEG ratio of 0.73. 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 Oil and Gas - Field Services was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
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 Sinks As Market Gains: What You Should Know
The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $53.03, reflecting a -1.21% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.14% for the day. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.16%.
Heading into today, shares of the world's largest oilfield services company had gained 2.62% over the past month, outpacing the Oils-Energy sector's gain of 2.24% and lagging the S&P 500's gain of 4.89% in that time.
The upcoming earnings release of Schlumberger will be of great interest to investors. The company's earnings report is expected on January 19, 2024. On that day, Schlumberger is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 18.31%. Meanwhile, the latest consensus estimate predicts the revenue to be $9 billion, indicating a 14.21% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.97 per share and a revenue of $33.12 billion, indicating changes of +36.24% and +17.91%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Schlumberger. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Schlumberger possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 18.09. This expresses no noticeable deviation compared to the average Forward P/E of 18.09 of its industry.
We can also see that SLB currently has a PEG ratio of 0.73. 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 Oil and Gas - Field Services was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
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.