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

Wall Street analysts expect Core Laboratories (NYSE:CLB) to announce $166.15 million in sales for the current quarter, Zacks 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 during the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The company is scheduled to issue its next earnings results on Wednesday, April 24th.

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

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

A number of research firms recently issued reports on CLB. ABN Amro raised Core Laboratories from a “sell” rating to a “buy” rating in a report on Wednesday, October 31st. TheStreet cut Core Laboratories from a “b-” rating to a “c+” rating in a report on Thursday, October 25th. Cowen cut their price target on Core Laboratories from $100.00 to $90.00 and set a “market perform” rating for the company in a report on Monday, October 29th. ValuEngine cut Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Finally, Zacks Investment Research cut Core Laboratories from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $95.09.

Shares of Core Laboratories stock traded down $2.50 during trading on Thursday, reaching $64.69. The company’s stock had a trading volume of 436,355 shares, compared to its average volume of 643,956. The company has a quick ratio of 1.81, a current ratio of 2.25 and a debt-to-equity ratio of 1.80. Core Laboratories has a one year low of $56.72 and a one year high of $130.34. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.47 and a beta of 1.87.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, January 25th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, January 24th. This represents a $2.20 annualized dividend and a yield of 3.40%.

Large investors have recently made changes to their positions in the business. Retirement Systems of Alabama raised its holdings in Core Laboratories by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 57,324 shares of the oil and gas company’s stock worth $3,420,000 after purchasing an additional 188 shares during the last quarter. Vanguard Group Inc raised its holdings 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 purchasing an additional 64,032 shares during the last quarter. Motley Fool Wealth Management LLC raised its holdings in Core Laboratories by 3.6% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 56,974 shares of the oil and gas company’s stock worth $6,599,000 after purchasing an additional 1,981 shares during the last quarter. Arizona State Retirement System raised its holdings in Core Laboratories by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 31,393 shares of the oil and gas company’s stock worth $3,636,000 after purchasing an additional 771 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in Core Laboratories by 5.7% during the 3rd quarter. Aperio Group LLC now owns 23,338 shares of the oil and gas company’s stock worth $2,703,000 after purchasing an additional 1,268 shares during the last quarter.

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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