Natixis Increases Core Labs Price Target to $162.00 (CLB)
Stock analysts at Natixis hoisted their price objective on shares of Core Labs (NYSE:CLB) from $150.00 to $162.00 in a report issued on Friday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. Natixis’ price objective would suggest a potential downside of 17.76% from the stock’s previous close.
Core Labs (NYSE:CLB) traded up 3.76% on Friday, hitting $196.99. 388,742 shares of the company’s stock traded hands. Core Labs has a 52-week low of $94.72 and a 52-week high of $192.94. The stock has a 50-day moving average of $167.2 and a 200-day moving average of $150.9. The company has a market cap of $8.990 billion and a price-to-earnings ratio of 39.40.
Core Labs (NYSE:CLB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.34 by $0.02. The company had revenue of $273.16 million for the quarter, compared to the consensus estimate of $267.21 million. During the same quarter last year, the company posted $1.13 earnings per share. Core Labs’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Core Labs will post $5.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 20th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, October 16th.
A number of other firms have also recently commented on CLB. Analysts at Guggenheim raised their price target on shares of Core Labs from $175.00 to $225.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Howard Weil raised their price target on shares of Core Labs from $180.00 to $222.00 in a research note to investors on Friday. They now have a “sector outperform” rating on the stock. Finally, analysts at Global Hunter Securities downgraded shares of Core Labs from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $166.50.
Core Laboratories N.V. (NYSE:CLB) is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry.
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