FY2017 EPS Estimates for Schlumberger N.V. Cut by SunTrust Banks (SLB)
Schlumberger N.V. (NYSE:SLB) – SunTrust Banks dropped their FY2017 earnings estimates for shares of Schlumberger N.V. in a report released on Monday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings of $1.47 per share for the year, down from their previous estimate of $1.51. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.45 EPS.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 12.6% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/fy2017-eps-estimates-for-schlumberger-n-v-cut-by-suntrust-banks-slb/1677136.html.
SLB has been the subject of several other research reports. Zacks Investment Research downgraded Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Wednesday. Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, July 7th. FBR & Co reiterated a “buy” rating on shares of Schlumberger N.V. in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research report on Saturday, October 21st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $80.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Schlumberger N.V. presently has an average rating of “Buy” and an average target price of $80.08.
Shares of Schlumberger N.V. (NYSE SLB) opened at $63.58 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $87,617.82, a P/E ratio of 49.03, a P/E/G ratio of 1.93 and a beta of 1.02.
In other Schlumberger N.V. news, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Several large investors have recently made changes to their positions in SLB. First Eagle Investment Management LLC lifted its holdings in shares of Schlumberger N.V. by 103.9% during the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after purchasing an additional 8,167,945 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Schlumberger N.V. by 12.8% during the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after purchasing an additional 5,494,165 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Schlumberger N.V. by 33.5% during the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after purchasing an additional 2,791,675 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Schlumberger N.V. by 2.9% during the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after purchasing an additional 2,790,227 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Schlumberger N.V. by 13.8% during the second quarter. Capital Research Global Investors now owns 16,460,016 shares of the oil and gas company’s stock valued at $1,083,727,000 after purchasing an additional 1,993,829 shares in the last quarter. 79.13% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger N.V. Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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