Core Laboratories (NYSE:CLB) Updates Q4 Earnings Guidance

Core Laboratories (NYSE:CLB) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.37-0.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.45. The company issued revenue guidance of $154-156 million, compared to the consensus revenue estimate of $162.80 million.Core Laboratories also updated its Q1 guidance to $0.39-0.41 EPS.

Shares of Core Laboratories stock opened at $38.41 on Friday. The firm’s 50 day moving average price is $45.08 and its 200-day moving average price is $46.11. The company has a quick ratio of 1.48, a current ratio of 1.92 and a debt-to-equity ratio of 1.85. Core Laboratories has a 52-week low of $36.50 and a 52-week high of $75.63. The company has a market cap of $1.67 billion, a P/E ratio of 16.85, a PEG ratio of 6.23 and a beta of 1.92.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Core Laboratories had a net margin of 14.68% and a return on equity of 45.63%. The firm had revenue of $173.20 million for the quarter, compared to the consensus estimate of $171.38 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Core Laboratories will post 1.75 EPS for the current fiscal year.

A number of research analysts have recently issued reports on CLB shares. Cowen cut their price objective on shares of Core Laboratories from $42.00 to $39.00 and set a market perform rating on the stock in a research report on Tuesday. ValuEngine raised shares of Core Laboratories from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Morgan Stanley dropped their target price on shares of Core Laboratories from $65.00 to $55.00 and set an equal weight rating on the stock in a research report on Monday, October 7th. Bank of America set a $48.00 price target on Core Laboratories and gave the stock a buy rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus downgraded Core Laboratories from a buy rating to a hold rating and cut their price target for the stock from $50.00 to $40.00 in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $55.30.

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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Earnings History and Estimates for Core Laboratories (NYSE:CLB)

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