$0.49 Earnings Per Share Expected for Core Laboratories (NYSE:CLB) This Quarter

Wall Street brokerages expect Core Laboratories (NYSE:CLB) to report earnings of $0.49 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Core Laboratories’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.48. Core Laboratories reported earnings of $0.64 per share in the same quarter last year, which suggests a negative year over year growth rate of 23.4%. The firm is expected to report its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Core Laboratories will report full-year earnings of $1.90 per share for the current financial year, with EPS estimates ranging from $1.86 to $1.94. For the next financial year, analysts anticipate that the firm will report earnings of $2.25 per share, with EPS estimates ranging from $2.10 to $2.45. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. The company had revenue of $169.04 million during the quarter, compared to analysts’ expectations of $173.46 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis.

CLB has been the topic of a number of recent research reports. Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a report on Friday, April 26th. Bank of America raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, July 10th. Morgan Stanley dropped their target price on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. ValuEngine lowered Core Laboratories from a “sell” rating to a “strong sell” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada set a $77.00 target price on Core Laboratories and gave the company a “buy” rating in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.67.

In other Core Laboratories news, Director Gregory Barry Barnett acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $40.00 per share, with a total value of $40,000.00. Following the completion of the acquisition, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $440,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the company. Bremer Bank National Association purchased a new stake in shares of Core Laboratories in the first quarter valued at $30,000. Marshall Wace LLP purchased a new stake in shares of Core Laboratories in the first quarter valued at $30,000. NEXT Financial Group Inc purchased a new stake in shares of Core Laboratories in the second quarter valued at $31,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Core Laboratories in the second quarter valued at $31,000. Finally, HM Payson & Co. purchased a new stake in shares of Core Laboratories in the second quarter valued at $49,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Shares of NYSE:CLB traded up $1.75 during trading on Tuesday, reaching $38.77. The company had a trading volume of 600,500 shares, compared to its average volume of 806,698. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 3.23 and a beta of 1.91. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.80 and a quick ratio of 1.41. The stock’s fifty day moving average price is $49.37 and its 200 day moving average price is $58.92. Core Laboratories has a fifty-two week low of $36.61 and a fifty-two week high of $122.11.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 22nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date was Friday, July 19th. Core Laboratories’s dividend payout ratio is presently 96.49%.

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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