Schlumberger (SLB) Gears Up for Q3 Results
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Schlumberger Limited (NYSE: SLB) shares are up less than a percent, to $68.45, today. The company is expected to release their earnings before the market opens up tomorrow, October 23, 2009.
The second quarter of 2009 saw Schlumberger report EPS of $0.68 and revs of $5.53 billion, both better than the consensus. Last year, Schlumberger reported a third quarter EPS of $1.29, and revenue of $7.26 billion, again, both above the Street estimates.
Schlumberger is up 19% from the last quarter, and about 50% since the start of the year, lagging just behind their sector, Oil Well Services & Equipment, which is up about 27% for three months, and 53% year-to-date.
According to Bloomberg, 16 have a Buy rating on Schlumberger, 11 have a Hold, and 1 has a Sell rating. The analysts' consensus price is $70.24. Currently, the Street is looking for Schlumberger to report and EPS of $0.63 and revs of $5.48 billion.
Goldman Sachs recently upgraded Schlumberger to Buy and put a price target of $78 on the company. Goldman said that Schlumberger is the beneficiary of the pending inflection point in international spending.
Deutsche Bank remains positive on the outlook for the oilfield service space. They said, "Although the OSX is up nearly 70% Year-To-Date and more than 85% from its lows, it remains nearly 45% below last year's high. Meanwhile, visibility on an activity recovery continues to improve and valuations remain quite reasonable, especially relative to normalized levels.
Pritchard Capital reviews the entire oil services sector as whole, and sees Schlumberger as a top pick.
Schlumberger will issue its Q309 results via press release at approximately 7:00 AM (EDT) on October 23, 2009. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
The second quarter of 2009 saw Schlumberger report EPS of $0.68 and revs of $5.53 billion, both better than the consensus. Last year, Schlumberger reported a third quarter EPS of $1.29, and revenue of $7.26 billion, again, both above the Street estimates.
Schlumberger is up 19% from the last quarter, and about 50% since the start of the year, lagging just behind their sector, Oil Well Services & Equipment, which is up about 27% for three months, and 53% year-to-date.
According to Bloomberg, 16 have a Buy rating on Schlumberger, 11 have a Hold, and 1 has a Sell rating. The analysts' consensus price is $70.24. Currently, the Street is looking for Schlumberger to report and EPS of $0.63 and revs of $5.48 billion.
Goldman Sachs recently upgraded Schlumberger to Buy and put a price target of $78 on the company. Goldman said that Schlumberger is the beneficiary of the pending inflection point in international spending.
Deutsche Bank remains positive on the outlook for the oilfield service space. They said, "Although the OSX is up nearly 70% Year-To-Date and more than 85% from its lows, it remains nearly 45% below last year's high. Meanwhile, visibility on an activity recovery continues to improve and valuations remain quite reasonable, especially relative to normalized levels.
Pritchard Capital reviews the entire oil services sector as whole, and sees Schlumberger as a top pick.
Schlumberger will issue its Q309 results via press release at approximately 7:00 AM (EDT) on October 23, 2009. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
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