$123.80 Million in Sales Expected for Core Laboratories (NYSE:CLB) This Quarter

Wall Street analysts predict that Core Laboratories (NYSE:CLB) will announce sales of $123.80 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Core Laboratories’ earnings. The lowest sales estimate is $123.60 million and the highest is $124.00 million. Core Laboratories reported sales of $105.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The business is expected to announce its next earnings results on Wednesday, October 20th.

On average, analysts expect that Core Laboratories will report full-year sales of $481.13 million for the current fiscal year, with estimates ranging from $478.00 million to $485.70 million. For the next fiscal year, analysts forecast that the company will post sales of $553.24 million, with estimates ranging from $544.00 million to $558.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 28th. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $118.75 million during the quarter, compared to the consensus estimate of $118.85 million. Core Laboratories had a net margin of 7.32% and a return on equity of 27.46%.

A number of analysts have issued reports on CLB shares. Morgan Stanley reduced their price target on shares of Core Laboratories from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 3rd. Piper Sandler reduced their price target on shares of Core Laboratories from $20.00 to $17.50 and set a “neutral” rating on the stock in a report on Friday, August 20th. downgraded shares of Core Laboratories from a “neutral” rating to a “sell” rating and lifted their price target for the company from $30.00 to $36.00 in a report on Monday, June 14th. Finally, Citigroup downgraded shares of Core Laboratories from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $30.00 to $36.00 in a report on Monday, June 14th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Core Laboratories has an average rating of “Hold” and a consensus target price of $27.79.

NYSE CLB traded down $0.90 on Tuesday, reaching $27.89. The company had a trading volume of 346,682 shares, compared to its average volume of 494,817. The company has a quick ratio of 1.79, a current ratio of 2.21 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.29 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.10 and a beta of 3.29. The firm’s 50 day moving average price is $30.60 and its 200 day moving average price is $33.75. Core Laboratories has a 12 month low of $13.43 and a 12 month high of $49.87.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Monday, August 9th were issued a $0.01 dividend. The ex-dividend date was Friday, August 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.14%. Core Laboratories’s dividend payout ratio (DPR) is presently 5.00%.

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in Core Laboratories by 113.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,060,967 shares of the oil and gas company’s stock valued at $80,275,000 after purchasing an additional 1,093,166 shares during the last quarter. BlackRock Inc. grew its holdings in Core Laboratories by 18.1% during the 1st quarter. BlackRock Inc. now owns 5,454,018 shares of the oil and gas company’s stock valued at $157,020,000 after purchasing an additional 836,653 shares during the last quarter. Fred Alger Management LLC grew its holdings in Core Laboratories by 35.1% during the 1st quarter. Fred Alger Management LLC now owns 3,193,648 shares of the oil and gas company’s stock valued at $91,945,000 after purchasing an additional 829,502 shares during the last quarter. Morgan Stanley grew its holdings in Core Laboratories by 318.5% during the 2nd quarter. Morgan Stanley now owns 620,718 shares of the oil and gas company’s stock valued at $24,177,000 after purchasing an additional 472,415 shares during the last quarter. Finally, AKO Capital LLP grew its holdings in Core Laboratories by 34.2% during the 2nd quarter. AKO Capital LLP now owns 1,365,005 shares of the oil and gas company’s stock valued at $53,167,000 after purchasing an additional 347,797 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Core Laboratories Company Profile

Core Laboratories NV engages in the provision of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. It operates through the following business segments: Reservoir Description and Production Enhancement. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid, and gas samples and provides analytical and field services to characterize properties of crude oil and petroleum products.

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Earnings History and Estimates for Core Laboratories (NYSE:CLB)

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