$8.53 Billion in Sales Expected for Schlumberger Limited. (NYSE:SLB) This Quarter

Equities analysts expect Schlumberger Limited. (NYSE:SLB) to report $8.53 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Schlumberger’s earnings. The highest sales estimate is $8.66 billion and the lowest is $8.43 billion. Schlumberger posted sales of $8.50 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The business is scheduled to issue its next quarterly earnings report on Friday, October 18th.

According to Zacks, analysts expect that Schlumberger will report full year sales of $33.38 billion for the current fiscal year, with estimates ranging from $33.09 billion to $33.88 billion. For the next fiscal year, analysts expect that the business will report sales of $36.22 billion, with estimates ranging from $34.71 billion to $38.60 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Schlumberger.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS.

A number of analysts have recently commented on the company. Bank of America reaffirmed a “buy” rating and issued a $51.00 price target (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada cut their price objective on Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Finally, Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Schlumberger currently has a consensus rating of “Hold” and an average target price of $52.17.

In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Ellis Investment Partners LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at $26,000. Quad Cities Investment Group LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Schlumberger during the 2nd quarter valued at $32,000. Doyle Wealth Management bought a new stake in shares of Schlumberger during the 2nd quarter valued at $33,000. Finally, Lenox Wealth Management Inc. raised its stake in shares of Schlumberger by 41.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 256 shares during the period. 77.19% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SLB traded up $0.18 on Monday, hitting $33.87. 388,302 shares of the stock were exchanged, compared to its average volume of 10,708,089. The stock has a market capitalization of $47.16 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.14 and a beta of 1.44. Schlumberger has a 52 week low of $31.11 and a 52 week high of $65.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The company’s 50-day moving average price is $37.59 and its 200 day moving average price is $40.59.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 5.90%. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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