Core Laboratories Rating Lowered to Sector Perform at Iberia Capital (CLB)
Core Laboratories (NYSE:CLB) was downgraded by stock analysts at Iberia Capital from an “outperform” rating to a “sector perform” rating in a report issued on Monday, American Banking News reports.
Shares of Core Laboratories (NYSE:CLB) traded down 11.68% on Monday, hitting $167.02. 5,199,560 shares of the company’s stock traded hands. Core Laboratories 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 $197.4 and a 200-day moving average of $190.5. The company has a market cap of $7.495 billion and a price-to-earnings ratio of 34.95.
Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.35 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.22 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Analysts expect that Core Laboratories will post $6.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, April 23rd.
A number of other analysts have also recently weighed in on CLB. Analysts at Cowen and Company cut their price target on shares of Core Laboratories from $170.00 to $160.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Core Laboratories in a research note on Wednesday, May 7th. They now have a $201.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Core Laboratories presently has an average rating of “Hold” and a consensus target price of $188.11.
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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