Core Laboratories (CLB) Issues Q4 Earnings Guidance
Core Laboratories (NYSE:CLB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of ~$0.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.58. The company issued revenue guidance of ~$171.5 million, compared to the consensus revenue estimate of $171.39 million.
Shares of Core Laboratories (NYSE CLB) traded down 1.94% during mid-day trading on Monday, hitting $87.75. 707,317 shares of the stock traded hands. Core Laboratories has a one year low of $86.55 and a one year high of $125.83. The company’s 50 day moving average is $94.90 and its 200 day moving average is $101.06. The firm has a market capitalization of $3.87 billion, a P/E ratio of 53.83 and a beta of 1.64.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Core Laboratories had a return on equity of 61.31% and a net margin of 13.86%. The firm had revenue of $163.90 million during the quarter, compared to the consensus estimate of $168.23 million. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that Core Laboratories will post $1.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Friday, October 20th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, October 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.51%. Core Laboratories’s payout ratio is presently 134.15%.
Several equities analysts have recently weighed in on CLB shares. BidaskClub upgraded Core Laboratories from a sell rating to a hold rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded Core Laboratories from a hold rating to a strong sell rating in a report on Monday, July 17th. Piper Jaffray Companies set a $97.00 price target on Core Laboratories and gave the company a hold rating in a report on Wednesday, July 26th. UBS AG restated a neutral rating and set a $110.00 price target (down from $125.00) on shares of Core Laboratories in a report on Wednesday, July 26th. Finally, Citigroup Inc. dropped their price objective on Core Laboratories from $102.00 to $100.00 and set a neutral rating on the stock in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $110.91.
An institutional investor recently raised its position in Core Laboratories stock. The Manufacturers Life Insurance Company boosted its position in Core Laboratories (NYSE:CLB) by 63.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,128 shares of the oil and gas company’s stock after purchasing an additional 439 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Core Laboratories were worth $114,000 as of its most recent SEC filing.
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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