Schlumberger (SLB) Announces Quarterly Earnings, Meets Expectations

Schlumberger (SLB) announced its earnings results 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 HSBC (NYSE: HBC) 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. On a related note, analysts at Citigroup (NYSE: C) raised their price target on shares of Schlumberger from $86.00 to $89.00 in a research note to investors on Monday, April 23rd. Finally, analysts at Sterne Agee upgraded shares of Schlumberger from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, April 3rd. They now have a $93.00 price target on the stock.

Shares of Schlumberger (SLB) traded down 1.07% during mid-day trading on Wednesday, hitting $69.64. Schlumberger (SLB) has a one year low of $54.79 and a one year high of $95.53. The company has a market cap of $92.869 billion and a P/E ratio of 17.80.

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

Stay ahead of the market with Analyst Ratings Network's daily email update that provides a summary of analysts' upgrades, downgrades and new coverage. Click here to register now.

Posted by Web Inquirer Staff on 9 May 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.