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Schlumberger (SLB) closed the most recent trading day at $46.30, moving -0.81% from the previous trading session. This change lagged the S&P 500's daily gain of 1.84%. At the same time, the Dow added 1.33%, and the tech-heavy Nasdaq gained 0.53%.
Prior to today's trading, shares of the world's largest oilfield services company had gained 9.58% over the past month. This has lagged the Oils-Energy sector's gain of 14.09% and outpaced the S&P 500's loss of 0.5% in that time.
Wall Street will be looking for positivity from Schlumberger as it approaches its next earnings report date. In that report, analysts expect Schlumberger to post earnings of $0.39 per share. This would mark year-over-year growth of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.27 billion, up 11.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.85 per share and revenue of $26.07 billion, which would represent changes of +44.53% and +13.71%, respectively, from the prior year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Schlumberger currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 25.3. This valuation marks a discount compared to its industry's average Forward P/E of 26.83.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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