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Schlumberger Well Positioned For Rebound Despite Bleak Near-term Outlook

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Oilfield services giant Schlumberger (SLB - Get Report) may issue worse first quarter earnings than the Wall Street research community generally thinks but is still better positioned than its peers for a recovery next year, according to report Monday by RBC Capital Markets.

Analyst Kurt Hallead wrote in the note that he is looking for earnings per share of 35 cents in the first quarter versus the consensus of 40 cents. He said his estimates are below the Street across all geographies for both sales and margins and he expects overall decreasing margins of 23% in the quarter.

The Houston-based company--which is led by chairman and CEO Paal...


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