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Market Update (NYSE:SLB): Schlumberger Issues Venezuela Operations Update

[Business Wire] – Schlumberger Limited announced today that it will reduce its activity in Venezuela to align operations with cash collections. This measure is a result of insufficient payments received in recent quarters and a lack of progress in establishing new mechanisms that address past and future accounts receivable. Read more on this. Schlumberger Limited (SLB) , valued at $105.53B, opened at $74.17. During the trading session, SLB traded between $73.86 to $76.16 with its 52-week range being $59.60 to $95.13. Schlumberger (SLB) shares are currently priced at 45.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.68x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.00 per share annually in dividends, yielding 2.71%. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $0.40 per share, which would be $0.66 worse than the year-ago quarter and a $0.17 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.63, which would be a $1.74 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.51 Billion. If reported, that would be a 36.49% decrease over the year-ago quarter. In terms of ratings, Nomura Initiated SLB at Buy (Apr 8, 2016). Previously, DA Davidson Initiated SLB at to Buy. When considering if the stock is under or overvalued, the average price target is $83.18, which is 12.15% 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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