Analysts expect Core Laboratories (NYSE:CLB) to post sales of $173.57 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Core Laboratories’ earnings, with the lowest sales estimate coming in at $173.10 million and the highest estimate coming in at $174.00 million. Core Laboratories posted sales of $175.48 million during the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The business is expected to report its next earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Core Laboratories will report full year sales of $715.49 million for the current year, with estimates ranging from $707.63 million to $724.70 million. For the next fiscal year, analysts forecast that the business will report sales of $786.23 million, with estimates ranging from $775.04 million to $797.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Core Laboratories.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $169.19 million during the quarter, compared to the consensus estimate of $166.79 million. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Core Laboratories from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Tudor Pickering raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. UBS Group set a $72.00 target price on Core Laboratories and gave the company a “hold” rating in a research note on Saturday, February 2nd. Finally, Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Core Laboratories presently has a consensus rating of “Hold” and an average price target of $86.45.
In related news, CAO Kevin Daniels sold 428 shares of Core Laboratories stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $66.25, for a total transaction of $28,355.00. Following the sale, the chief accounting officer now directly owns 352 shares in the company, valued at $23,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLB. JPMorgan Chase & Co. boosted its holdings in Core Laboratories by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 1,306,668 shares of the oil and gas company’s stock worth $151,352,000 after acquiring an additional 53,986 shares in the last quarter. AQR Capital Management LLC bought a new stake in Core Laboratories in the third quarter worth $230,000. Neuberger Berman Group LLC boosted its holdings in Core Laboratories by 18.0% in the third quarter. Neuberger Berman Group LLC now owns 544,227 shares of the oil and gas company’s stock worth $63,038,000 after acquiring an additional 83,175 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Core Laboratories by 28.6% in the third quarter. Teachers Advisors LLC now owns 3,377 shares of the oil and gas company’s stock worth $391,000 after acquiring an additional 751 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its holdings in Core Laboratories by 27.1% in the third quarter. Standard Life Aberdeen plc now owns 9,500 shares of the oil and gas company’s stock worth $1,100,000 after acquiring an additional 2,025 shares in the last quarter.
Shares of NYSE CLB opened at $55.80 on Thursday. The stock has a market cap of $2.44 billion, a P/E ratio of 25.54, a PEG ratio of 1.99 and a beta of 1.80. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.45 and a current ratio of 1.84. Core Laboratories has a 1-year low of $54.18 and a 1-year high of $130.34.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Friday, April 26th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.20 annualized dividend and a dividend yield of 3.94%.
About Core Laboratories
Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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