Core Laboratories (CLB) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Core Laboratories (NYSE:CLB) released its quarterly earnings results on Monday. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04, Briefing.com reports. Core Laboratories had a net margin of 13.86% and a return on equity of 61.31%. The firm had revenue of $166.20 million for the quarter, compared to the consensus estimate of $160.94 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Core Laboratories updated its Q4 guidance to ~$0.58 EPS.
Core Laboratories (NYSE:CLB) traded down 1.94% during mid-day trading on Monday, hitting $87.75. 707,317 shares of the company were exchanged. The company has a 50 day moving average of $94.90 and a 200 day moving average of $101.06. The stock has a market cap of $3.87 billion, a P/E ratio of 53.83 and a beta of 1.64. Core Laboratories has a 12-month low of $86.55 and a 12-month high of $125.83.
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 paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, October 19th. Core Laboratories’s dividend payout ratio is currently 134.15%.
CLB has been the subject of several research analyst reports. ValuEngine downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating on shares of Core Laboratories in a research report on Wednesday, October 18th. Deutsche Bank AG initiated coverage on shares of Core Laboratories in a research report on Tuesday, October 10th. They issued a “buy” rating and a $109.00 target price for the company. Cowen and Company set a $100.00 target price on shares of Core Laboratories and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Core Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $110.91.
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A hedge fund recently raised its stake in Core Laboratories stock. The Manufacturers Life Insurance Company boosted its stake in shares of Core Laboratories (NYSE:CLB) by 63.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,128 shares of the oil and gas company’s stock after buying 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 filing with the SEC.
About Core Laboratories
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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