Equities analysts forecast that Core Laboratories (NYSE:CLB) will report earnings per share of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Core Laboratories’ earnings, with estimates ranging from $0.42 to $0.44. Core Laboratories reported earnings per share of $0.57 during the same quarter last year, which suggests a negative year-over-year growth rate of 24.6%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, April 24th.
On average, analysts expect that Core Laboratories will report full year earnings of $2.08 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.25. For the next year, analysts expect that the company will post earnings of $2.72 per share, with EPS estimates ranging from $2.42 to $3.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Core Laboratories.
Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, January 30th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The firm had revenue of $173.20 million during the quarter, compared to analyst estimates of $173.90 million. During the same period in the prior year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year.
A number of equities research analysts recently issued reports on CLB shares. Zacks Investment Research raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Piper Jaffray Companies set a $70.00 target price on Core Laboratories and gave the company a “hold” rating in a research report on Wednesday, December 26th. Citigroup dropped their target price on Core Laboratories from $76.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, January 4th. UBS Group set a $72.00 target price on Core Laboratories and gave the company a “hold” rating in a research report on Saturday, February 2nd. Finally, Tudor Pickering raised Core Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $89.64.
In other Core Laboratories news, CAO Kevin Daniels sold 428 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $66.25, for a total value of $28,355.00. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of CLB. Massachusetts Financial Services Co. MA boosted its stake in shares of Core Laboratories by 37.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,608,898 shares of the oil and gas company’s stock worth $155,648,000 after acquiring an additional 711,739 shares during the period. Millennium Management LLC boosted its stake in shares of Core Laboratories by 277.4% during the 4th quarter. Millennium Management LLC now owns 797,161 shares of the oil and gas company’s stock worth $47,559,000 after acquiring an additional 585,945 shares during the period. Norges Bank bought a new position in shares of Core Laboratories during the 4th quarter worth approximately $26,251,000. Deutsche Bank AG boosted its stake in shares of Core Laboratories by 1,200.7% during the 4th quarter. Deutsche Bank AG now owns 279,876 shares of the oil and gas company’s stock worth $16,695,000 after acquiring an additional 258,359 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Core Laboratories by 50.1% during the 4th quarter. Van ECK Associates Corp now owns 767,372 shares of the oil and gas company’s stock worth $45,781,000 after acquiring an additional 256,061 shares during the period.
Core Laboratories stock traded down $0.14 during midday trading on Friday, reaching $73.83. The stock had a trading volume of 819,182 shares, compared to its average volume of 420,039. Core Laboratories has a 1-year low of $56.72 and a 1-year high of $130.34. The firm has a market cap of $3.27 billion, a PE ratio of 32.38, a P/E/G ratio of 2.58 and a beta of 1.86. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.81 and a current ratio of 2.25.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Friday, April 26th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.20 dividend on an annualized basis and a yield of 2.98%.
Core Laboratories Company Profile
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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