Brokerages Anticipate Schlumberger Limited. (NYSE:SLB) Will Announce Quarterly Sales of $8.12 Billion

Wall Street brokerages predict that Schlumberger Limited. (NYSE:SLB) will report sales of $8.12 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Schlumberger’s earnings. The highest sales estimate is $8.19 billion and the lowest is $8.02 billion. Schlumberger posted sales of $8.30 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.2%. The business is expected to report its next earnings report before the market opens on Friday, July 19th.

According to Zacks, analysts expect that Schlumberger will report full year sales of $33.37 billion for the current fiscal year, with estimates ranging from $32.91 billion to $34.37 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $36.70 billion, with estimates ranging from $35.19 billion to $39.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Schlumberger.

Schlumberger (NYSE:SLB) last released its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The business had revenue of $7.88 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis.

A number of research analysts have weighed in on the stock. Gabelli assumed coverage on shares of Schlumberger in a research report on Thursday, June 27th. They set a “buy” rating and a $55.00 price target on the stock. Tudor Pickering cut shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a research report on Monday, April 22nd. Bank of America reaffirmed an “underperform” rating and set a $1.25 price target (down from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Morgan Stanley cut shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Finally, Raymond James set a $29.00 price target on shares of Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.58.

SLB stock traded up $0.17 during midday trading on Thursday, reaching $40.79. 525,134 shares of the company’s stock traded hands, compared to its average volume of 10,201,092. The company has a market cap of $55.96 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.59 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.99. Schlumberger has a fifty-two week low of $34.46 and a fifty-two week high of $69.28. The stock’s 50-day simple moving average is $37.45.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.90%. Schlumberger’s dividend payout ratio is currently 123.46%.

In related news, insider Alexander C. Juden sold 8,643 shares of Schlumberger stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total value of $374,155.47. Following the completion of the sale, the insider now owns 70,260 shares in the company, valued at $3,041,555.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Simon Ayat sold 25,000 shares of Schlumberger stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the completion of the sale, the chief financial officer now owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Washington Trust Bank boosted its holdings in shares of Schlumberger by 4.3% during the first quarter. Washington Trust Bank now owns 5,719 shares of the oil and gas company’s stock valued at $249,000 after acquiring an additional 237 shares during the period. Lenox Wealth Management Inc. boosted its holdings in shares of Schlumberger by 41.1% during the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 256 shares during the period. Monarch Capital Management Inc. boosted its holdings in shares of 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 acquiring an additional 285 shares during the period. Cetera Advisor Networks LLC boosted its holdings in shares of 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 acquiring an additional 286 shares during the period. Finally, Security National Trust Co. boosted its holdings in shares of Schlumberger by 3.8% during the first quarter. Security National Trust Co. now owns 8,300 shares of the oil and gas company’s stock valued at $362,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 77.16% of the company’s stock.

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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