Wall Street’s Forecast for Schlumberger on March 31
Wall Street’s forecast for Schlumberger
In this final part of our series, we’ll look at Wall Street analysts’ forecasts for Schlumberger (SLB) stock as of March 31, 2017.
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On March 31, 2017, about 85.0% of analysts tracking Schlumberger rated it a “buy” or some equivalent. About 15.0% rated it a “hold.” None of the analysts recommended a “sell” or equivalent, according to data compiled by Reuters.
Schlumberger makes up 0.54% of the SPDR S&P 500 ETF (SPY). You can see Wall Street analysts’ estimates for the top OFS (oilfield services and equipment) companies in Market Realist’s What Oilfield Services Companies’ Forward Multiples Indicate.
By comparison, all the sell-side analysts tracking Key Energy Services (KEG) rated it a “buy” or some equivalent on March 31, 2017.
Analysts’ rating changes for SLB
From December 31, 2016, through March 31, 2017, the percentage of analysts recommending a “buy” or some equivalent for SLB has risen from 81.0% to 85.0%. A year ago, ~79.0% of sell-side analysts recommended a “buy” for the stock.
Analysts’ target prices for SLB
Wall Street analysts’ mean target price for SLB as of March 31, 2017, was $96.75. SLB is currently trading at ~$78.10, implying a ~24.0% upside at its current consensus mean price. A month ago, analysts’ average target price for SLB was $97.30. You can learn more about SLB’s valuation in Schlumberger’s Valuation Compared to Its Peers in 2017.
Target prices for SLB’s peers
The mean target price among sell-side analysts for Halliburton (HAL) was $63.30 on March 31, 2017. HAL is currently trading at ~$49.20, implying a 29.0% upside at its average target price. The mean target price surveyed among sell-side analysts for McDermott International (MDR) was $8.60. MDR is currently trading at ~$6.80, implying a ~27.0% upside to its average target price.
You can find out more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.