Brokerages Expect Schlumberger N.V. (SLB) Will Post Quarterly Sales of $7.94 Billion
Wall Street brokerages predict that Schlumberger N.V. (NYSE:SLB) will post $7.94 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Schlumberger N.V.’s earnings, with estimates ranging from $7.85 billion to $8.03 billion. Schlumberger N.V. reported sales of $7.02 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.1%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Friday, October 20th.
On average, analysts expect that Schlumberger N.V. will report full-year sales of $7.94 billion for the current year, with estimates ranging from $30.14 billion to $31.02 billion. For the next year, analysts anticipate that the firm will report sales of $35.06 billion per share, with estimates ranging from $33.01 billion to $37.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Schlumberger N.V..
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS.
Several analysts have recently commented on the stock. Jefferies Group LLC set a $80.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, August 25th. BidaskClub downgraded shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Wells Fargo & Company restated an “outperform” rating on shares of Schlumberger N.V. in a research report on Monday, July 10th. Barclays PLC downgraded shares of Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $98.00 to $73.00 in a research report on Wednesday, June 21st. Finally, Sanford C. Bernstein upgraded shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $94.00 to $80.00 in a research report on Thursday, July 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.80.
Schlumberger N.V. (SLB) traded down 0.68% on Friday, hitting $67.24. 11,428,399 shares of the stock were exchanged. The firm has a market cap of $93.10 billion, a P/E ratio of 529.45 and a beta of 1.03. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The company has a 50-day moving average of $65.24 and a 200 day moving average of $70.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
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In other news, Director Michael E. Marks bought 8,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Helge Lund bought 2,800 shares of the stock in a transaction dated Monday, July 24th. The stock was purchased at an average price of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Valley National Advisers Inc. lifted its holdings in Schlumberger N.V. by 0.3% during the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 8 shares in the last quarter. Wealth Architects LLC lifted its holdings in Schlumberger N.V. by 0.3% during the 1st quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 13 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in Schlumberger N.V. by 0.5% during the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 18 shares in the last quarter. Syntal Capital Partners LLC lifted its holdings in Schlumberger N.V. by 0.5% during the 1st quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock valued at $439,000 after buying an additional 29 shares in the last quarter. Finally, Family Legacy Inc. lifted its holdings in Schlumberger N.V. by 0.9% during the 2nd quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 30 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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