Core Laboratories (CLB) Expected to Post Earnings of $0.50 Per Share

Wall Street analysts predict that Core Laboratories (NYSE:CLB) will announce earnings of $0.50 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Core Laboratories’ earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.51. Core Laboratories reported earnings of $0.58 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.8%. The business is expected to issue its next earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Core Laboratories will report full year earnings of $2.19 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.30. For the next fiscal year, analysts anticipate that the business will report earnings of $2.53 per share, with EPS estimates ranging from $2.26 to $3.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $182.15 million for the quarter, compared to analysts’ expectations of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS.

A number of research firms have issued reports on CLB. Stifel Nicolaus upgraded Core Laboratories from a “hold” rating to a “buy” rating and cut their price target for the stock from $117.00 to $110.00 in a report on Monday, October 29th. Zacks Investment Research reaffirmed a “sell” rating on shares of Core Laboratories in a research report on Monday, November 12th. Edward Jones started coverage on Core Laboratories in a research report on Tuesday, September 4th. They set a “buy” rating for the company. Morgan Stanley started coverage on Core Laboratories in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price objective for the company. Finally, Bank of America started coverage on Core Laboratories in a report on Wednesday, October 17th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $111.42.

Shares of Core Laboratories stock traded down $2.88 on Tuesday, reaching $82.14. 18,166 shares of the company’s stock were exchanged, compared to its average volume of 498,771. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.44 and a beta of 1.66. Core Laboratories has a 52 week low of $78.44 and a 52 week high of $130.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, October 18th. Core Laboratories’s payout ratio is presently 110.00%.

A number of hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its holdings in Core Laboratories by 11.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the oil and gas company’s stock valued at $620,000 after buying an additional 490 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Core Laboratories by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,046 shares of the oil and gas company’s stock valued at $2,151,000 after acquiring an additional 496 shares during the last quarter. American International Group Inc. boosted its position in shares of Core Laboratories by 0.7% during the 2nd quarter. American International Group Inc. now owns 87,948 shares of the oil and gas company’s stock valued at $11,100,000 after acquiring an additional 628 shares during the last quarter. Signaturefd LLC boosted its position in shares of Core Laboratories by 403.7% during the 2nd quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 650 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Core Laboratories by 22.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,561 shares of the oil and gas company’s stock valued at $449,000 after acquiring an additional 657 shares during the last quarter.

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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