SLB Falls 3.15% as Shares Trail the Broader Market

SLB shares fell 3.15% to $49.87 in the latest session, underperforming the S&P 500, which lost 0.17%. The Dow fell 0.26%, while the Nasdaq declined 0.09%.

Over the past month, SLB shares dropped 14.33%. That was a steeper decline than the Business Services sector’s 5.31% loss and the S&P 500’s 0.24% decline.

Investors are watching for SLB’s upcoming financial results. The latest consensus estimate calls for earnings of $0.62 per share, down 10.14% from a year earlier, and revenue of $9.29 billion, up 4.04%, according to Zacks.

For the full fiscal year, Zacks consensus estimates put earnings at $2.49 per share and revenue at $37.08 billion. Those figures represent projected declines of 15.02% in earnings and growth of 3.83% in revenue from the prior year.

The consensus earnings estimate has edged 0.29% lower over the past month. Zacks said analyst estimate changes can reflect shifts in short-term business trends.