Schlumberger Ltd. (NYSE: SLB) Loses -11.98% From High. Why That Could Change?

Currently, there are 1.43B common shares owned by the public and among those 1.43B shares have been available to trade.

The company’s stock has a 5-day price change of 0.68% and 5.07% over the past three months. SLB shares are trading 5.07% year to date (YTD), with the 12-month market performance up to 12.19% higher. It has a 12-month low price of $42.73 and touched a high of $62.12 over the same period. SLB has an average intraday trading volume of 11.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.55%, 8.01%, and 1.44% respectively.

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Institutional ownership of Schlumberger Ltd. (NYSE: SLB) shares accounts for 83.61% of the company’s 1.43B shares outstanding.

It has a market capitalization of $78.34B and a beta (3y monthly) value of 1.62. The stock’s trailing 12-month PE ratio is 18.79, while the earnings-per-share (ttm) stands at $2.91. The company has a PEG of 0.95 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.15% over the week and 1.86% over the month.

Analysts forecast that Schlumberger Ltd. (SLB) will achieve an EPS of $0.75 for the current quarter, $0.85 for the next quarter and $4.16 for 2025. The lowest estimate earnings-per-share for the quarter is $0.73 while analysts give the company a high EPS estimate of $0.8. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 18.60%, and 17.67% over the next financial year. EPS should grow at an annualized rate of 19.70% over the next five years, compared to 13.74% over the past 5-year period.

Looking at the support for the SLB, a number of firms have released research notes about the stock. Societe Generale stated their Buy rating for the stock in a research note on October 09, 2023, with the firm’s price target at $81. CapitalOne coverage for the Schlumberger Ltd. (SLB) stock in a research note released on June 07, 2023 offered a Overweight rating with a price target of $63. UBS was of a view on April 19, 2023 that the stock is Buy, while Susquehanna gave the stock Positive rating on January 23, 2023, issuing a price target of $65- $68. The Benchmark Company on their part issued Buy rating on January 19, 2023.

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