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Schlumberger (SLB) Rises But Trails Market: What Investors Should Know
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The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $45.28, reflecting a +0.18% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.02%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The world's largest oilfield services company's shares have seen an increase of 0.53% over the last month, surpassing the Oils-Energy sector's loss of 11.98% and falling behind the S&P 500's gain of 4.44%.
Investors will be eagerly watching for the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 19, 2024. On that day, Schlumberger is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 15.28%. Alongside, our most recent consensus estimate is anticipating revenue of $9.07 billion, indicating a 12.03% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.51 per share and revenue of $37.18 billion, indicating changes of +17.79% and +12.2%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Schlumberger. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 12.88. This valuation marks a discount compared to its industry's average Forward P/E of 17.22.
It's also important to note that SLB currently trades at a PEG ratio of 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SLB's industry had an average PEG ratio of 0.97 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Schlumberger (SLB) Rises But Trails Market: What Investors Should Know
The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $45.28, reflecting a +0.18% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.02%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The world's largest oilfield services company's shares have seen an increase of 0.53% over the last month, surpassing the Oils-Energy sector's loss of 11.98% and falling behind the S&P 500's gain of 4.44%.
Investors will be eagerly watching for the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 19, 2024. On that day, Schlumberger is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 15.28%. Alongside, our most recent consensus estimate is anticipating revenue of $9.07 billion, indicating a 12.03% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.51 per share and revenue of $37.18 billion, indicating changes of +17.79% and +12.2%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Schlumberger. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 12.88. This valuation marks a discount compared to its industry's average Forward P/E of 17.22.
It's also important to note that SLB currently trades at a PEG ratio of 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SLB's industry had an average PEG ratio of 0.97 as of yesterday's close.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.