Brokerages Expect Core Laboratories (CLB) to Announce $0.64 EPS

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Wall Street brokerages forecast that Core Laboratories (NYSE:CLB) will report $0.64 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Core Laboratories’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.63. Core Laboratories posted earnings per share of $0.48 in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The firm is expected to issue its next earnings report on Monday, October 22nd.

On average, analysts expect that Core Laboratories will report full-year earnings of $2.39 per share for the current year, with EPS estimates ranging from $2.37 to $2.40. For the next financial year, analysts forecast that the firm will post earnings of $3.05 per share, with EPS estimates ranging from $2.84 to $3.20. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Core Laboratories.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. The firm had revenue of $175.48 million during the quarter, compared to the consensus estimate of $174.47 million. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share.

Several analysts recently weighed in on the company. ValuEngine downgraded Core Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Citigroup upgraded Core Laboratories from a “sell” rating to a “neutral” rating and set a $117.00 price objective for the company in a report on Monday, August 13th. ABN Amro downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $96.00 target price on shares of Core Laboratories in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of Core Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $114.90.

A number of institutional investors have recently made changes to their positions in CLB. Howland Capital Management LLC raised its holdings in Core Laboratories by 6.3% in the first quarter. Howland Capital Management LLC now owns 109,683 shares of the oil and gas company’s stock worth $11,870,000 after purchasing an additional 6,518 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Core Laboratories by 7.1% in the first quarter. Wells Fargo & Company MN now owns 643,596 shares of the oil and gas company’s stock worth $69,651,000 after purchasing an additional 42,479 shares in the last quarter. Mcdonald Capital Investors Inc. CA grew its stake in shares of Core Laboratories by 1.9% during the first quarter. Mcdonald Capital Investors Inc. CA now owns 324,193 shares of the oil and gas company’s stock worth $35,084,000 after acquiring an additional 6,065 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Core Laboratories during the first quarter worth about $827,000. Finally, Manning & Napier Group LLC grew its stake in shares of Core Laboratories by 14.5% during the first quarter. Manning & Napier Group LLC now owns 64,150 shares of the oil and gas company’s stock worth $6,942,000 after acquiring an additional 8,105 shares during the last quarter.

CLB stock opened at $115.28 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $5.12 billion, a P/E ratio of 52.12 and a beta of 1.44. Core Laboratories has a 1-year low of $86.55 and a 1-year high of $130.34.

The company also recently announced a quarterly dividend, which was paid on Monday, August 13th. Shareholders of record on Monday, July 23rd were issued a $0.55 dividend. The ex-dividend date was Friday, July 20th. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. Core Laboratories’s dividend payout ratio is presently 110.00%.

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. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises 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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