Morgan Stanley Reiterates “Overweight” Rating for Schlumberger Limited. (SLB)
Schlumberger Limited. (NYSE:SLB)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a report issued on Thursday. They currently have a $168.00 price objective on the stock, up from their previous price objective of $115.00. Morgan Stanley’s price target would indicate a potential upside of 47.56% from the stock’s previous close.
The analysts wrote, “LB’s EPS CAGR guidance of 17-20% through 2017 (vs. MS of 15%) came in on the back of a very realistic 6% industry spending growth estimate, with superior growth driven by technology and deepwater leadership. We see 48%/76% upside to our PT/bull-case on achievable FCF assumptions.”
Schlumberger Limited. (NYSE:SLB) traded up 2.28% during mid-day trading on Thursday, hitting $116.45. 5,721,991 shares of the company’s stock traded hands. Schlumberger Limited. has a 1-year low of $71.60 and a 1-year high of $114.44. The stock has a 50-day moving average of $104.0 and a 200-day moving average of $95.33. The company has a market cap of $151.6 billion and a P/E ratio of 21.40. Schlumberger Limited. also saw unusually large options trading on Wednesday. Traders purchased 30,165 call options on the stock. This is an increase of 259% compared to the average volume of 8,413 call options.
Schlumberger Limited. (NYSE:SLB) last released its earnings data on Thursday, April 17th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.01. The company had revenue of $11.24 billion for the quarter, compared to the consensus estimate of $11.49 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Schlumberger Limited. will post $5.68 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Schlumberger Limited. from $120.00 to $130.00 in a research note on Thursday. They now have a “sector outperform” rating on the stock. Separately, analysts at Bank of America raised their price target on shares of Schlumberger Limited. from $119.00 to $127.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Schlumberger Limited. from $117.00 to $127.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Schlumberger Limited. has a consensus rating of “Buy” and a consensus price target of $119.32.
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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