Analysts Anticipate Core Laboratories N.V. (CLB) Will Announce Quarterly Sales of $171.85 Million
Equities analysts predict that Core Laboratories N.V. (NYSE:CLB) will post $171.85 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Core Laboratories’ earnings, with estimates ranging from $171.54 million to $172.16 million. Core Laboratories posted sales of $149.54 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The firm is scheduled to announce its next earnings results on Wednesday, January 24th.
On average, analysts expect that Core Laboratories will report full-year sales of $171.85 million for the current year, with estimates ranging from $656.10 million to $660.12 million. For the next year, analysts forecast that the firm will report sales of $731.16 million per share, with estimates ranging from $719.09 million to $750.74 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Core Laboratories.
Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Core Laboratories had a net margin of 12.06% and a return on equity of 52.89%. The business had revenue of $166.20 million during the quarter, compared to analyst estimates of $160.94 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis.
A number of brokerages have weighed in on CLB. Royal Bank Of Canada reissued a “buy” rating and set a $115.00 target price on shares of Core Laboratories in a report on Friday, September 1st. Deutsche Bank AG assumed coverage on shares of Core Laboratories in a research report on Tuesday, October 10th. They issued a “buy” rating and a $109.00 price target for the company. Loop Capital reduced their price target on shares of Core Laboratories from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. ABN Amro raised shares of Core Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, Cowen Inc set a $100.00 price objective on shares of Core Laboratories and gave the company a “hold” rating in a research report on Friday, October 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $108.64.
Core Laboratories (CLB) opened at $101.57 on Monday. Core Laboratories has a 52 week low of $86.55 and a 52 week high of $125.83. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 1.53. The firm has a market cap of $4,480.00, a price-to-earnings ratio of 55.50 and a beta of 1.56.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Friday, October 20th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, October 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.17%. Core Laboratories’s payout ratio is currently 127.17%.
Several institutional investors have recently bought and sold shares of CLB. Parallel Advisors LLC grew its position in shares of Core Laboratories by 13.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,008 shares of the oil and gas company’s stock worth $101,000 after buying an additional 117 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Core Laboratories by 63.7% during the 2nd 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. Shine Investment Advisory Services Inc. acquired a new position in shares of Core Laboratories during the 2nd quarter worth about $134,000. Advisory Services Network LLC grew its position in shares of Core Laboratories by 33.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock worth $138,000 after buying an additional 341 shares during the period. Finally, First Bank & Trust grew its position in shares of Core Laboratories by 5.8% during the 2nd quarter. First Bank & Trust now owns 1,493 shares of the oil and gas company’s stock worth $152,000 after buying an additional 82 shares during the period.
About Core Laboratories
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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