Schlumberger (SLB) Flat As Market Sinks: What You Should Know
In the latest trading session, Schlumberger (SLB) closed at $33.26, marking no change from the previous day.
Schlumberger (SLB) closed at $33.26 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's 1.94% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.39%.
Prior to today's trading, shares of the world's largest oilfield services company had gained 8.13% over the past month. This has outpaced the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
Schlumberger will be looking to display strength as it nears its next earnings release, which is expected to be January 21, 2022. In that report, analysts expect Schlumberger to post earnings of $0.39 per share. This would mark year-over-year growth of 77.27%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 10.02% from the prior-year quarter.
Any recent changes to analyst estimates for Schlumberger should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Schlumberger is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Schlumberger's current valuation metrics, including its Forward P/E ratio of 17.52. This valuation marks a discount compared to its industry's average Forward P/E of 26.73.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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