Core Laboratories (CLB) Expected to Announce Quarterly Sales of $171.06 Million

Wall Street brokerages forecast that Core Laboratories (NYSE:CLB) will report $171.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Core Laboratories’ earnings, with the lowest sales estimate coming in at $170.71 million and the highest estimate coming in at $171.40 million. Core Laboratories posted sales of $157.81 million in the same quarter last year, which suggests a positive year over year growth rate of 8.4%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Core Laboratories will report full-year sales of $732.68 million for the current fiscal year, with estimates ranging from $724.99 million to $740.36 million. For the next fiscal year, analysts forecast that the firm will report sales of $784.37 million per share, with estimates ranging from $771.11 million to $797.62 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $172.00 million for the quarter, compared to the consensus estimate of $171.92 million. Core Laboratories had a return on equity of 58.25% and a net margin of 12.60%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS.

CLB has been the topic of several analyst reports. Piper Jaffray initiated coverage on Core Laboratories in a research report on Tuesday, March 13th. They issued a “neutral” rating and a $96.00 target price on the stock. Zacks Investment Research upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, April 4th. TheStreet upgraded Core Laboratories from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. Royal Bank of Canada set a $110.00 price target on Core Laboratories and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Deutsche Bank cut Core Laboratories from a “buy” rating to a “hold” rating and lowered their price target for the company from $116.30 to $109.00 in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $111.99.

Shares of NYSE CLB traded up $1.31 during mid-day trading on Friday, hitting $118.06. The company had a trading volume of 187,463 shares, compared to its average volume of 443,313. The company has a market cap of $5,156.18, a price-to-earnings ratio of 58.73 and a beta of 1.40. Core Laboratories has a 12 month low of $86.55 and a 12 month high of $121.39. The company has a current ratio of 1.98, a quick ratio of 1.66 and a debt-to-equity ratio of 1.53.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its position in shares of Core Laboratories by 60.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,096 shares of the oil and gas company’s stock worth $120,000 after buying an additional 414 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Core Laboratories by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after buying an additional 439 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Core Laboratories in the fourth quarter worth $139,000. Teachers Advisors LLC boosted its position in shares of Core Laboratories by 56.6% in the fourth quarter. Teachers Advisors LLC now owns 1,779 shares of the oil and gas company’s stock worth $195,000 after buying an additional 643 shares during the period. Finally, Callahan Advisors LLC acquired a new stake in shares of Core Laboratories in the fourth quarter worth $201,000.

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. 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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