Brokerages Expect Core Laboratories (CLB) Will Announce Earnings of $0.64 Per Share

Analysts expect that Core Laboratories (NYSE:CLB) will post earnings per share of $0.64 for the current quarter, Zacks reports. Three analysts have provided estimates for Core Laboratories’ earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.65. Core Laboratories posted earnings of $0.48 per share during 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.

According to Zacks, analysts expect that Core Laboratories will report full-year earnings of $2.41 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.45. For the next financial year, analysts forecast that the firm will report earnings of $3.05 per share, with EPS estimates ranging from $2.84 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Core Laboratories.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $175.48 million during the quarter, compared to analysts’ expectations of $174.47 million. Core Laboratories had a net margin of 13.32% and a return on equity of 64.13%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share.

A number of brokerages have commented on CLB. ValuEngine cut shares of Core Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. ABN Amro cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Edward Jones began coverage on shares of Core Laboratories in a research note on Tuesday, September 4th. They set a “buy” rating for the company. Royal Bank of Canada cut their price target on shares of Core Laboratories to $130.00 and set an “outperform” rating for the company in a research note on Thursday, July 5th. Finally, Zacks Investment Research cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $115.00.

CLB traded down $0.46 during midday trading on Thursday, reaching $108.91. 303,745 shares of the company’s stock were exchanged, compared to its average volume of 298,793. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 54.46, a P/E/G ratio of 3.79 and a beta of 1.50. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.53. Core Laboratories has a one year low of $87.66 and a one year high of $130.34.

Several hedge funds and other institutional investors have recently bought and sold shares of CLB. Signaturefd LLC increased its holdings in shares of Core Laboratories by 403.7% during the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock worth $102,000 after buying an additional 650 shares in the last quarter. WMS Partners LLC acquired a new stake in shares of Core Laboratories during the second quarter worth approximately $202,000. World Asset Management Inc acquired a new stake in shares of Core Laboratories during the second quarter worth approximately $205,000. Ingalls & Snyder LLC acquired a new stake in shares of Core Laboratories during the second quarter worth approximately $225,000. Finally, Creative Planning acquired a new stake in shares of Core Laboratories during the second quarter worth approximately $226,000.

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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