Core Laboratories (CLB) Expected to Post Quarterly Sales of $169.02 Million
Brokerages expect that Core Laboratories (NYSE:CLB) will post $169.02 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Core Laboratories’ earnings. The highest sales estimate is $170.2 million and the lowest is $167.84 million. Core Laboratories posted sales of $148.07 million during the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The company is expected to issue its next earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Core Laboratories will report full-year sales of $169.02 million for the current fiscal year, with estimates ranging from $634.9 million to $709.43 million. For the next year, analysts anticipate that the firm will report sales of $804.03 million per share, with estimates ranging from $712.1 million to $883.97 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts 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, beating analysts’ consensus estimates of $0.39 by $0.03. Core Laboratories had a return on equity of 65.65% and a net margin of 10.74%. The company had revenue of $157.81 million for the quarter, compared to the consensus estimate of $150.44 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Core Laboratories’s revenue was up 2.7% on a year-over-year basis.
A number of analysts have commented on CLB shares. Scotiabank set a $133.00 price target on Core Laboratories and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Loop Capital raised Core Laboratories from a “hold” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $130.00 in a research report on Friday, April 21st. Zacks Investment Research cut Core Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Citigroup Inc reaffirmed a “neutral” rating and set a $117.00 price target (down previously from $119.00) on shares of Core Laboratories in a research report on Saturday, March 11th. Finally, ABN Amro raised Core Laboratories to a “hold” rating in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Core Laboratories presently has a consensus rating of “Hold” and a consensus target price of $125.60.
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Institutional investors have recently modified their holdings of the stock. Achmea Investment Management B.V. bought a new position in shares of Core Laboratories during the first quarter valued at about $245,000. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $7,951,000 after buying an additional 41,955 shares during the period. Ashford Capital Management Inc. boosted its position in shares of 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 valued at $2,071,000 after buying an additional 1,097 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Core Laboratories during the first quarter valued at about $123,000. Finally, HighTower Advisors LLC boosted its position in shares of 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 valued at $1,100,000 after buying an additional 5,829 shares during the period.
Core Laboratories (NYSE:CLB) traded up 2.79% on Friday, reaching $102.87. The company’s stock had a trading volume of 542,672 shares. Core Laboratories has a 1-year low of $96.30 and a 1-year high of $133.38. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 68.13 and a beta of 1.55. The firm’s 50 day moving average price is $110.76 and its 200-day moving average price is $113.93.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Friday, April 28th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $2.20 annualized dividend and a dividend yield of 2.20%. Core Laboratories’s dividend payout ratio (DPR) is presently 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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