Schlumberger Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | April 19, 2024 02:02am

Schlumberger Limited (NYSE:SLB) is set to release earnings results for its first quarter before the opening bell on April 19, 2024.

Analysts expect the Houston, Texas-based company to report quarterly earnings at 75 cents per share, up from 63 cents per share in the year-ago period. SLB is projected to report quarterly revenue of $8.69 billion, compared to $7.74 billion in the year-earlier quarter, according to data from Benzinga Pro.

SLB recently announced an agreement to acquire ChampionX (NYSE:CHX) in an all-stock transaction. Schlumberger will acquire ChampionX, and the shareholders will receive 0.735 shares of Schlumberger in exchange for each ChampionX share.

SLB shares rose 0.3% to close at $50.94 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Susquehanna analyst Charles Minervino maintained a Positive rating with a price target of $77 on April 8, 2024. This analyst has an accuracy rate of 65%.
• Barclays analyst David Anderson maintained an Overweight rating and cut the price target from $74 to $70 on April 4, 2024. This analyst has an accuracy rate of 69%.
• Goldman Sachs analyst Neil Mehta maintained a Buy rating on April 1, 2024. This analyst has an accuracy rate of 71%.
• Wells Fargo analyst Roger Read maintained an Overweight rating and boosted the price target from $69 to $70 on Jan. 22, 2024. This analyst has an accuracy rate of 74%.
• Raymond James analyst James Rollyson maintained an Outperform rating and increased the price target from $68 to $72 on Oct. 23, 2023. This analyst has an accuracy rate of 71%.

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Posted In: CHX SLB