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Company Update (NYSE:SLB): Schlumberger Announces Increase in Maximum Tender Amount and Early Tender Results for Tender Offer for Senior Notes of Cameron International Corporation

[Business Wire] – Schlumberger Holdings Corporation today announced the early tender results in its previously announced cash tender offer for up to an aggregate principal amount of $1,200,000,000 of the outstanding senior notes of Cameron International Corporation specified in the table below . Read more on this. Schlumberger Limited (SLB) , valued at $90.83B, opened this morning at $72.01. A quick look at the market, the company’s stock traded between $71.96 and $72.58 with a one year range of $59.60 to $95.13. SLB shares are currently priced at 44.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.04x earnings multiple. The company pays shareholders $2.00 per share in dividend income per year, for a current yield of 2.77%. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $0.41 per share, which would be $0.65 worse than the year-ago quarter and a $0.17 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.65 is a $1.72 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.72 Billion. If realized, that would be a 34.44% decrease over the year-ago quarter. Recently, DA Davidson Initiated SLB at Buy (Feb 19, 2016). Previously, Citigroup upgraded SLB from Neutral to Buy. Investors should keep in mind is that the average price target is $82.78, which is 14.96% above where the stock opened this morning. See more in (NYSE:SLB) Similar Articles: Company Update: Schlumberger Limited (NYSE:SLB) – Schlumberger-Cameron Merger Receives Chinese Antitrust Approval Market Update (NYSE:SLB): EU clears acquisition of Cameron by Schlumberger Market Update (NYSE:SLB): Schlumberger Announces Full-Year and Fourth-Quarter 2015 Results
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