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Schlumberger (SLB) Rises Higher Than Market: Key Facts
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Schlumberger (SLB - Free Report) closed the most recent trading day at $45.46, moving +1.27% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%.
Prior to today's trading, shares of the world's largest oilfield services company had gained 8.9% over the past month. This has outpaced the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% in that time.
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 October 18, 2024. The company's upcoming EPS is projected at $0.89, signifying a 14.1% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $9.3 billion, up 11.88% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.47 per share and a revenue of $36.8 billion, demonstrating changes of +16.44% and +11.05%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Schlumberger. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Currently, Schlumberger is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 12.92. This represents a discount compared to its industry's average Forward P/E of 18.45.
It's also important to note that SLB currently trades at a PEG ratio of 0.96. 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. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 1.01.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Schlumberger (SLB) Rises Higher Than Market: Key Facts
Schlumberger (SLB - Free Report) closed the most recent trading day at $45.46, moving +1.27% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%.
Prior to today's trading, shares of the world's largest oilfield services company had gained 8.9% over the past month. This has outpaced the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% in that time.
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 October 18, 2024. The company's upcoming EPS is projected at $0.89, signifying a 14.1% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $9.3 billion, up 11.88% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.47 per share and a revenue of $36.8 billion, demonstrating changes of +16.44% and +11.05%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Schlumberger. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Currently, Schlumberger is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 12.92. This represents a discount compared to its industry's average Forward P/E of 18.45.
It's also important to note that SLB currently trades at a PEG ratio of 0.96. 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. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 1.01.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.