SLB NV (NYSE:SLB) on Friday reported second-quarter adjusted earnings and revenue above analyst expectations.
Adjusted EPS of 55 cents topped the 51-cent estimate, while revenue rose 5% to $8.972 billion, beating $8.672 billion.
SLB expects third-quarter revenue to increase 3% to 4% sequentially, with adjusted EBITDA margin expanding about 75 basis points.
A renewed Middle East escalation could reduce third-quarter revenue by roughly $150 million and adjusted EBITDA by $75 million, primarily affecting Well Construction and Reservoir Performance.
For the fourth quarter, SLB expects revenue above $10 billion and adjusted EBITDA margin near 24%, assuming continued Middle East recovery.
SLB shares slipped 0.1% to trade at $52.36 on Monday.
These analysts made changes to their price targets on SLB following earnings announcement.
- Barclays analyst David Anderson maintained the stock with an Overweight rating and raised the price target from $64 to $67.
- BMO Capital analyst Phillip Jungwirth maintained the stock with an Outperform rating and raised the price target from $59 to $63.
- Susquehanna analyst Bascome Majors maintained SLB with a Positive and raised the price target from $55 to $62.
- Evercore ISI Group analyst James West maintained the stock with an Outperform rating and raised the price target from $63 to $66.
Considering buying SLB stock? Here’s what analysts think:
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