Zacks: Analysts Anticipate Schlumberger N.V. (SLB) Will Announce Quarterly Sales of $8.34 Billion
Brokerages predict that Schlumberger N.V. (NYSE:SLB) will announce $8.34 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Schlumberger N.V.’s earnings. The highest sales estimate is $8.73 billion and the lowest is $7.93 billion. Schlumberger N.V. reported sales of $7.11 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 17.3%. The firm is scheduled to report its next earnings report on Friday, October 20th.
On average, analysts expect that Schlumberger N.V. will report full year sales of $8.34 billion for the current fiscal year, with estimates ranging from $30.15 billion to $31.02 billion. For the next year, analysts anticipate that the business will post sales of $34.87 billion per share, with estimates ranging from $32.70 billion to $38.46 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Schlumberger N.V..
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 12.6% on a year-over-year basis.
SLB has been the subject of several recent research reports. Guggenheim lowered shares of Schlumberger N.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Atlantic Securities lowered shares of Schlumberger N.V. from an “overweight” rating to a “neutral” rating and cut their target price for the company from $86.00 to $68.00 in a research note on Tuesday, June 27th. Iberia Capital lowered shares of Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $100.00 to $77.00 in a research note on Thursday, June 29th. Jefferies Group LLC reissued a “buy” rating and set a $92.00 target price on shares of Schlumberger N.V. in a research note on Friday, June 30th. Finally, Zacks Investment Research lowered shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $81.92.
In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $64.20 per share, with a total value of $513,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Edge Wealth Management LLC boosted its holdings in shares of Schlumberger N.V. by 148.4% during the 3rd quarter. Edge Wealth Management LLC now owns 3,361 shares of the oil and gas company’s stock worth $234,000 after buying an additional 2,008 shares during the period. Financial Advisory Service Inc. bought a new stake in shares of Schlumberger N.V. during the 3rd quarter worth $216,000. Glynn Capital Management LLC boosted its holdings in shares of Schlumberger N.V. by 34.7% during the 3rd quarter. Glynn Capital Management LLC now owns 21,550 shares of the oil and gas company’s stock worth $1,503,000 after buying an additional 5,550 shares during the period. Honkamp Krueger Financial Services Inc. boosted its holdings in shares of Schlumberger N.V. by 16.7% during the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 5,874 shares of the oil and gas company’s stock worth $410,000 after buying an additional 840 shares during the period. Finally, Oakbrook Investments LLC boosted its holdings in shares of Schlumberger N.V. by 1.2% during the 3rd quarter. Oakbrook Investments LLC now owns 400,805 shares of the oil and gas company’s stock worth $27,960,000 after buying an additional 4,945 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.
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Schlumberger N.V. (NYSE:SLB) opened at 63.15 on Monday. The stock’s 50 day moving average is $67.31 and its 200-day moving average is $68.66. Schlumberger N.V. has a 52 week low of $61.40 and a 52 week high of $87.84. The stock has a market capitalization of $87.43 billion, a PE ratio of 497.24 and a beta of 1.05.
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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