Core Labs Stock Rating Lowered by Morgan Stanley (CLB)
Core Labs (NYSE:CLB) was downgraded by Morgan Stanley from an “overweight” rating to an “underweight” rating in a research note issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $200.00 target price on the stock. Morgan Stanley’s target price indicates a potential downside of 6.41% from the company’s current price.
Shares of Core Labs (NYSE:CLB) traded down 8.51% on Thursday, hitting $195.50. 787,677 shares of the company’s stock traded hands. Core Labs has a one year low of $133.02 and a one year high of $221.00. The stock has a 50-day moving average of $200.0 and a 200-day moving average of $189.8. The company has a market cap of $8.769 billion and a price-to-earnings ratio of 40.47.
Core Labs (NYSE:CLB) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by $0.10. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $283.02 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Core Labs will post $6.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 23rd. Investors of record on Friday, April 25th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, April 23rd.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Core Labs from $200.00 to $235.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at S&P Equity Research downgraded shares of Core Labs from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. They now have a $204.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Core Labs in a research note on Friday, February 14th. They now have a $194.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $191.40.
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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