Schlumberger Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Schlumberger Limited (NYSE:SLB) is anticipated to report higher Q1 earnings with an expected EPS of 75 cents, up from 63 cents year-over-year, and revenue of $8.69 billion, up from $7.74 billion. The company also announced an all-stock acquisition of ChampionX (NYSE:CHX), with CHX shareholders receiving 0.735 shares of SLB for each CHX share. Analysts have maintained positive ratings on SLB, with price targets ranging from $70 to $77.
April 19, 2024 | 6:02 am
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POSITIVE IMPACT
ChampionX is being acquired by Schlumberger in an all-stock transaction, with CHX shareholders to receive 0.735 shares of SLB for each CHX share.
The acquisition by Schlumberger could be seen as a positive development for ChampionX shareholders, offering them a stake in a larger, potentially more stable entity. This strategic move could lead to a favorable market reaction for CHX in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Schlumberger is expected to report higher Q1 earnings and has announced the acquisition of ChampionX, receiving positive analyst ratings with price targets up to $77.
The expected increase in earnings and revenue, combined with the strategic acquisition of ChampionX, positions Schlumberger positively in the market. Analysts' maintained positive ratings and increased price targets further support a bullish outlook for SLB in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100