Schlumberger (SLB) Gains As Market Dips: What You Should Know
Schlumberger (SLB) closed at $41.53 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.34% loss on the day.
Coming into today, shares of the world's largest oilfield services company had lost 0.53% in the past month. In that same time, the Oils-Energy sector gained 3.99%, while the S&P 500 gained 5.03%.
Wall Street will be looking for positivity from Schlumberger as it approaches its next earnings report date. This is expected to be April 22, 2022. On that day, Schlumberger is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 57.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.96 billion, up 14.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.89 per share and revenue of $26.13 billion. These totals would mark changes of +47.66% and +13.98%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Schlumberger. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.4% lower within the past month. Schlumberger is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Schlumberger currently has a Forward P/E ratio of 21.91. This represents a discount compared to its industry's average Forward P/E of 27.6.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow SLB in the coming trading sessions, be sure to utilize Zacks.com.
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
To read this article on Zacks.com click here.
