Schlumberger NV (SLB) to Post FY2016 Earnings of $1.15 Per Share, Jefferies Group Forecasts
Schlumberger NV (NYSE:SLB) – Equities researchers at Jefferies Group increased their FY2016 earnings per share estimates for shares of Schlumberger NV in a research note issued to investors on Tuesday. Jefferies Group analyst B. Handler now forecasts that the brokerage will post earnings per share of $1.15 for the year, up from their prior estimate of $1.05. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Schlumberger NV’s Q4 2016 earnings at $0.28 EPS, Q1 2017 earnings at $0.27 EPS, Q2 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $1.85 EPS, FY2019 earnings at $7.00 EPS and FY2020 earnings at $9.25 EPS.
Other equities analysts have also issued research reports about the stock. Citigroup Inc. decreased their price target on shares of Schlumberger NV from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, September 12th. Vetr reissued a “buy” rating on shares of Schlumberger NV in a report on Tuesday, August 2nd. Howard Weil boosted their price target on shares of Schlumberger NV from $80.00 to $90.00 and gave the company a “sector outperform” rating in a report on Monday, July 25th. Zacks Investment Research lowered shares of Schlumberger NV from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Schlumberger NV has an average rating of “Buy” and a consensus target price of $91.01.
Schlumberger NV (NYSE:SLB) opened at 80.10 on Thursday. The company’s market capitalization is $111.44 billion. The firm’s 50-day moving average price is $80.03 and its 200 day moving average price is $78.71. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $84.30.
Schlumberger NV (NYSE:SLB) last posted its earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Schlumberger NV had a positive return on equity of 5.06% and a negative net margin of 8.78%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Wednesday, December 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. Schlumberger NV’s dividend payout ratio is currently -108.70%.
In other Schlumberger NV news, VP Stephane Biguet sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $79.73, for a total value of $239,190.00. Following the sale, the vice president now owns 10,108 shares in the company, valued at $805,910.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Marks sold 13,600 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $81.19, for a total transaction of $1,104,184.00. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger NV by 1.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,640,525 shares of the company’s stock worth $364,931,000 after buying an additional 44,602 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Schlumberger NV during the third quarter valued at about $2,022,000. Garde Capital Inc. acquired a new position in Schlumberger NV during the third quarter valued at about $447,000. J.P. Marvel Investment Advisors LLC increased its position in Schlumberger NV by 7.1% in the third quarter. J.P. Marvel Investment Advisors LLC now owns 95,232 shares of the company’s stock valued at $7,489,000 after buying an additional 6,320 shares during the last quarter. Finally, Altfest L J & Co. Inc. increased its position in Schlumberger NV by 2.9% in the third quarter. Altfest L J & Co. Inc. now owns 3,664 shares of the company’s stock valued at $288,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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