Zacks: Brokerages Expect Schlumberger Limited (NYSE:SLB) to Post $0.39 EPS

Wall Street brokerages expect Schlumberger Limited (NYSE:SLBGet Rating) to announce $0.39 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Schlumberger’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.40. Schlumberger posted earnings per share of $0.30 during the same quarter last year, which would suggest a positive year over year growth rate of 30%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Schlumberger will report full-year earnings of $1.85 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.97. For the next year, analysts expect that the company will post earnings of $2.63 per share, with EPS estimates ranging from $2.46 to $2.77. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Schlumberger.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.90 billion. Schlumberger had a net margin of 8.84% and a return on equity of 14.02%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS.

A number of equities analysts recently issued reports on the stock. Argus upped their price objective on shares of Schlumberger from $38.00 to $45.00 in a research report on Tuesday, January 25th. Susquehanna Bancshares upped their price objective on shares of Schlumberger from $41.00 to $43.00 in a research report on Monday, January 24th. Bank of America upped their price objective on shares of Schlumberger from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 24th. Cowen upped their price target on shares of Schlumberger from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, March 31st. Finally, Barclays upped their price target on shares of Schlumberger from $48.00 to $55.00 in a research report on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.51.

SLB stock traded up $1.71 during trading on Friday, reaching $40.74. 9,798,934 shares of the company were exchanged, compared to its average volume of 12,879,927. The company has a 50-day moving average of $41.22 and a two-hundred day moving average of $36.87. The company has a market capitalization of $57.58 billion, a price-to-earnings ratio of 27.71 and a beta of 1.91. Schlumberger has a twelve month low of $25.90 and a twelve month high of $46.27. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.89.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Wednesday, June 1st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. This represents a $0.70 annualized dividend and a yield of 1.72%. Schlumberger’s dividend payout ratio is currently 34.01%.

In related news, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $15.50, for a total transaction of $224,750,000.00. Following the transaction, the insider now directly owns 35,101,961 shares of the company’s stock, valued at $544,080,395.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 29,366 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $39.64, for a total transaction of $1,164,068.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,591,702 shares of company stock worth $228,488,030. 0.28% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Schlumberger during the third quarter worth $1,003,000. Alpha Cubed Investments LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at about $2,003,000. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Schlumberger by 3.4% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 693,642 shares of the oil and gas company’s stock valued at $20,775,000 after purchasing an additional 22,955 shares during the last quarter. Clear Street Markets LLC raised its holdings in shares of Schlumberger by 24.4% in the fourth quarter. Clear Street Markets LLC now owns 62,347 shares of the oil and gas company’s stock valued at $1,867,000 after purchasing an additional 12,247 shares during the last quarter. Finally, Drexel Morgan & Co. raised its holdings in shares of Schlumberger by 0.3% in the third quarter. Drexel Morgan & Co. now owns 338,012 shares of the oil and gas company’s stock valued at $10,019,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

About Schlumberger (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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