Core Laboratories (CLB) Expected to Post Earnings of $0.50 Per Share
Wall Street analysts expect that Core Laboratories (NYSE:CLB) will announce earnings per share (EPS) of $0.50 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Core Laboratories’ earnings. The lowest EPS estimate is $0.50 and the highest is $0.51. Core Laboratories reported earnings per share of $0.35 during the same quarter last year, which suggests a positive year-over-year growth rate of 42.9%. The business is expected to report its next quarterly earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Core Laboratories will report full-year earnings of $2.14 per share for the current year, with EPS estimates ranging from $1.94 to $2.40. For the next fiscal year, analysts forecast that the company will report earnings of $3.35 per share, with EPS estimates ranging from $2.51 to $4.10. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Core Laboratories.
Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, April 19th. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $157.81 million for the quarter, compared to analyst estimates of $150.44 million. Core Laboratories had a return on equity of 65.65% and a net margin of 10.74%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS.
A number of brokerages recently commented on CLB. Scotiabank set a $136.00 price target on Core Laboratories and gave the stock a “hold” rating in a report on Saturday, April 22nd. Tudor Pickering began coverage on Core Laboratories in a report on Thursday, March 23rd. They set a “hold” rating on the stock. Zacks Investment Research lowered Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. ABN Amro upgraded Core Laboratories to a “hold” rating in a report on Friday, April 21st. Finally, Citigroup Inc reiterated a “neutral” rating and set a $117.00 price target (down from $119.00) on shares of Core Laboratories in a report on Saturday, March 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $125.60.
A number of hedge funds have recently added to or reduced their stakes in CLB. Achmea Investment Management B.V. purchased a new stake in Core Laboratories during the first quarter worth about $245,000. Goldman Sachs Group Inc. increased its stake in Core Laboratories by 156.2% in the first quarter. Goldman Sachs Group Inc. now owns 68,823 shares of the oil and gas company’s stock worth $7,951,000 after buying an additional 41,955 shares in the last quarter. Ashford Capital Management Inc. increased its stake in Core Laboratories by 6.5% in the first quarter. Ashford Capital Management Inc. now owns 17,924 shares of the oil and gas company’s stock worth $2,071,000 after buying an additional 1,097 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in Core Laboratories during the first quarter worth about $123,000. Finally, HighTower Advisors LLC increased its stake in Core Laboratories by 155.4% in the first quarter. HighTower Advisors LLC now owns 9,579 shares of the oil and gas company’s stock worth $1,100,000 after buying an additional 5,829 shares in the last quarter.
Core Laboratories (NYSE:CLB) traded down 0.11% on Wednesday, hitting $106.98. The company had a trading volume of 86,083 shares. The stock has a market capitalization of $4.73 billion, a PE ratio of 70.85 and a beta of 1.55. The stock has a 50 day moving average of $111.37 and a 200-day moving average of $114.08. Core Laboratories has a one year low of $96.30 and a one year high of $133.38.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 23rd. Shareholders of record on Friday, April 28th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, April 27th. Core Laboratories’s dividend payout ratio is currently 150.68%.
Core Laboratories Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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