Earnings Preview: Schlumberger Ltd
Schlumberger (SLB) is expected to report Q2 earnings before market open Friday, July 18, with a conference call scheduled for 9:00 am ET.
Guidance
Analysts are looking for a profit of $1.12 on revenue of $6.48B. The consensus range is $1.06 to $1.16 for EPS, and revenue of $6.31B to $6.71B, according to First Call.
Analyst Views
Although Schlumberger rose to over $106 a share after reporting its Q1 results, the stock has since cooled off and is now trading just below $97 a share, about 2.6% above where it was last quarter before it reported.
There have been a number of recent bullish calls from analysts, including JP Morgan adding Schlumberger to its Focus List, saying the Q2 conference call will be a positive catalyst, and maintaining its Overweight rating. Morgan Stanley is also bullish, saying it believes Schlumberger will outperform expectations this quarter, and it would be a buyer of shares ahead of the earnings report. Morgan Stanley raised its target on the company to $155 from $145. Additionally, Jefferies believes Schlumberger's entire sector is oversold going into Q2 results.
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This article has 1 comment:
- anaconda
- 36 Comments
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