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Will This Oil Giant Recapture Its Uptrend Following Q4 Results?
Oilfield services giant Schlumberger (SLB - Free Report) is attempting to find support at a pivotal level ahead of its upcoming earnings announcement. The stock is benefitting lately from renewed strength in the energy sector. A Zacks Rank #5 (Strong Sell), Schlumberger is expected to deliver solid Q4 results on demand for drilling services and equipment. Given a long history of exceeding earnings estimates, is SLB stock a buy?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Schlumberger is slated to deliver its fourth-quarter figures on Friday before the opening bell. The company is expected to post a quarterly profit of $0.90/share, which would reflect a 4.65% growth rate relative to the same quarter in the prior year. Revenues are anticipated to climb 2.1% to $9.18 billion.
The company has established a long history of beating earnings estimates. Our proprietary Zacks Earnings ESP indicator does not conclusively predict another beat for the fourth quarter. As always, investors should proceed cautiously as stocks can be volatile surrounding earnings announcements.