HSBC Downgrades Schlumberger to Neutral (SLB)
Schlumberger (NYSE:SLB) was downgraded by research analysts at HSBC from an “overweight” rating to a “neutral” rating in a report released on Tuesday, StockRatingsNetwork reports.
Shares of Schlumberger (NYSE:SLB) opened at 91.17 on Tuesday. Schlumberger has a one year low of $66.85 and a one year high of $91.30. The stock’s 50-day moving average is $86.83 and its 200-day moving average is $78.9. The company has a market cap of $120.6 billion and a P/E ratio of 19.88.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.11 by $0.04. The company had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Schlumberger will post $4.76 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SLB. Analysts at Cowen and Company cut their price target on shares of Schlumberger from $105.00 to $101.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Schlumberger from $87.00 to $100.00 in a research note to investors on Tuesday, October 8th. They now have an “outperform” rating on the stock. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger in a research note to investors on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $96.48.
Schlumberger Limited (NYSE:SLB) is the supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry.
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