Schlumberger (SLB) Announces Quarterly Earnings, Meets Expectations

Schlumberger (SLB) issued its quarterly earnings data on Friday. The company reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The company’s revenue for the quarter was up 21.7% on a year-over-year basis.

SLB has been the subject of a number of recent research reports. Analysts at FBR Capital cut their price target on shares of Schlumberger from $93.00 to $85.00 in a research note to investors on Thursday, June 7th. They now have an “outperform” rating on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Schlumberger in a research note to investors on Friday, May 11st. They now have a $73.00 price target on the stock. Finally, analysts at HSBC cut their price target on shares of Schlumberger from $94.00 to $91.00 in a research note to investors on Tuesday, April 24th. They now have an “overweight” rating on the stock.

Schlumberger (SLB) traded up 1.34% on Tuesday, hitting $64.93. Schlumberger (SLB) has a 1-year low of $54.79 and a 1-year high of $95.53. The company has a market cap of $86.588 billion and a price-to-earnings ratio of 16.20.

Schlumberger Limited (Schlumberger) is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry.

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Posted by Web Inquirer Staff on 13 Jun 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.