$166.15 Million in Sales Expected for Core Laboratories (CLB) This Quarter

Brokerages predict that Core Laboratories (NYSE:CLB) will announce $166.15 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Core Laboratories’ earnings, with the highest sales estimate coming in at $167.10 million and the lowest estimate coming in at $165.35 million. Core Laboratories posted sales of $170.02 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is expected to announce its next earnings results after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that Core Laboratories will report full-year sales of $707.61 million for the current financial year, with estimates ranging from $693.00 million to $730.00 million. For the next financial year, analysts expect that the business will post sales of $771.33 million, with estimates ranging from $750.62 million to $803.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Core Laboratories.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, January 30th. The oil and gas company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $173.20 million for the quarter, compared to analyst estimates of $173.90 million. Core Laboratories had a return on equity of 63.86% and a net margin of 11.35%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share.

CLB has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered shares of Core Laboratories from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $111.00 to $79.00 in a research report on Tuesday, December 11th. ValuEngine lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Credit Suisse Group lowered shares of Core Laboratories from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $75.00 in a report on Wednesday, December 19th. Piper Jaffray Companies set a $70.00 target price on shares of Core Laboratories and gave the company a “hold” rating in a report on Wednesday, December 26th. Finally, Zacks Investment Research lowered shares of Core Laboratories from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $89.64.

In other news, CAO Kevin Daniels sold 428 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $66.25, for a total value of $28,355.00. Following the sale, the chief accounting officer now directly owns 352 shares of the company’s stock, valued at approximately $23,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CLB. WCM Investment Management LLC increased its stake in Core Laboratories by 0.9% during the 4th quarter. WCM Investment Management LLC now owns 4,912,229 shares of the oil and gas company’s stock worth $293,063,000 after buying an additional 42,169 shares during the period. Vanguard Group Inc. increased its stake in Core Laboratories by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,895,451 shares of the oil and gas company’s stock worth $451,209,000 after buying an additional 64,032 shares during the period. Vanguard Group Inc increased its stake in Core Laboratories by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 3,895,451 shares of the oil and gas company’s stock worth $451,209,000 after buying an additional 64,032 shares during the period. BlackRock Inc. increased its stake in Core Laboratories by 0.9% during the 4th quarter. BlackRock Inc. now owns 3,276,644 shares of the oil and gas company’s stock worth $195,485,000 after buying an additional 28,623 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in 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 buying an additional 711,739 shares during the period.

CLB traded up $0.41 on Friday, reaching $68.79. 433,502 shares of the company’s stock were exchanged, compared to its average volume of 585,344. The firm has a market capitalization of $3.06 billion, a PE ratio of 30.23, a PEG ratio of 2.51 and a beta of 1.86. Core Laboratories has a twelve month low of $56.72 and a twelve month high of $130.34. The company has a current ratio of 2.25, a quick ratio of 1.81 and a debt-to-equity ratio of 1.80.

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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