Schlumberger Limited. Given New $127.00 Price Target at Bank of America (SLB)
Bank of America hoisted their price objective on shares of Schlumberger Limited. (NYSE:SLB) from $119.00 to $127.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Bank of America’s price target would indicate a potential upside of 11.55% from the stock’s previous close.
The analysts wrote, “Schlumberger’s (SLB) investor conference was bullish as we expected. The company set a 2017 EPS target of $9.00-$10.00, driven by new technology introductions, increasing integrated work and transformation programs. The EPS target implies a 2013-17 CAGR of 17-20%, simplistically implying 2016 EPS of $7.60-$8.20 vs the $7.50 consensus. We maintain our 2014/2015E EPS of $5.75/$6.80, but increase 2016E to $8.00 from $7.60. Our 2016 estimate assumes an operating margin of 23.2%, up from 22.5% previously. Our PO increases to $127 assuming a forward P/E (2Q15-1Q16) of 18x, up from 17x. We continue to see possible upside to ~$155 (19x theoretical 2016E EPS of $8.20) if the high end of guidance is achieved.”
Shares of Schlumberger Limited. (NYSE:SLB) opened at 115.725 on Thursday. Schlumberger Limited. has a one year low of $71.60 and a one year high of $114.44. The stock’s 50-day moving average is $104.0 and its 200-day moving average is $95.33. The company has a market cap of $150.7 billion and a price-to-earnings ratio of 21.40. Schlumberger Limited. also saw some unusual options trading activity on Wednesday. Traders bought 30,165 call options on the company. This is an increase of 259% compared to the average daily 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. Analysts expect that Schlumberger Limited. will post $5.68 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Jefferies Group raised their price target on shares of Schlumberger Limited. from $119.00 to $135.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Schlumberger Limited. from $125.00 to $129.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $117.29.
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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