Schlumberger (SLB) Beats Stock Market Upswing: What Investors Need to Know
Schlumberger (SLB) ended the recent trading session at $53.43, demonstrating a +1.06% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.
Shares of the world's largest oilfield services company have appreciated by 8.85% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.4% and the S&P 500's gain of 1.76%.
The investment community will be closely monitoring the performance of Schlumberger in its forthcoming earnings report. The company is forecasted to report an EPS of $0.75, showcasing a 19.05% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.67 billion, indicating a 12.06% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.54 per share and a revenue of $37.29 billion, representing changes of +18.79% and +12.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Schlumberger. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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. As of now, Schlumberger holds a Zacks Rank of #3 (Hold).
In terms of valuation, Schlumberger is presently being traded at a Forward P/E ratio of 14.93. This valuation marks a discount compared to its industry's average Forward P/E of 16.33.
One should further note that SLB currently holds a PEG ratio of 0.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SLB's industry had an average PEG ratio of 0.94 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 148, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Schlumberger Limited (SLB) : Free Stock Analysis Report
