Analysts Expect Schlumberger Limited. (NYSE:SLB) Will Post Quarterly Sales of $8.53 Billion

Equities research analysts predict that Schlumberger Limited. (NYSE:SLB) will announce sales of $8.53 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Schlumberger’s earnings. The highest sales estimate is $8.66 billion and the lowest is $8.43 billion. Schlumberger reported sales of $8.50 billion in the same quarter last year, which indicates 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 financial year, with estimates ranging from $33.09 billion to $33.88 billion. For the next fiscal year, analysts anticipate that the company will post sales of $36.22 billion, with estimates ranging from $34.71 billion to $38.60 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Schlumberger.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. Schlumberger’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share.

Several brokerages have commented on SLB. Gabelli initiated coverage on shares of Schlumberger in a research report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective on the stock. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 1st. Raymond James restated a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Bank of America restated a “buy” rating and set a $51.00 price target (down previously from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.17.

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

A number of large investors have recently modified their holdings of SLB. Lenox Wealth Management Inc. lifted its stake in shares of Schlumberger by 41.1% in the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after buying an additional 256 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Schlumberger by 1.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock valued at $1,010,000 after buying an additional 262 shares during the last quarter. Pendal Group Ltd increased its holdings in Schlumberger by 1.5% during the second quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after buying an additional 269 shares during the last quarter. Monarch Capital Management Inc. increased its holdings in Schlumberger by 1.3% during the first quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock valued at $933,000 after buying an additional 285 shares during the last quarter. Finally, Cetera Advisor Networks LLC increased its holdings in Schlumberger by 2.7% during the first quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 286 shares during the last quarter. Institutional investors own 77.19% of the company’s stock.

SLB stock traded down $1.68 during midday trading on Monday, hitting $32.03. The company’s stock had a trading volume of 11,945,211 shares, compared to its average volume of 10,349,756. The stock’s 50-day moving average price is $37.34 and its 200 day moving average price is $40.48. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. Schlumberger has a 1 year low of $31.11 and a 1 year high of $65.57. The stock has a market cap of $46.59 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.11 and a beta of 1.44.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is presently 123.46%.

Schlumberger Company Profile

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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Earnings History and Estimates for Schlumberger (NYSE:SLB)

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