Core Laboratories N.V. (CLB) Releases Q3 Earnings Guidance
Core Laboratories N.V. (NYSE:CLB) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.54-0.56 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. The company issued revenue guidance of $165.5-170 million, compared to the consensus revenue estimate of $179.01 million.
Several research firms recently commented on CLB. Royal Bank Of Canada set a $145.00 target price on shares of Core Laboratories N.V. and gave the company a buy rating in a research note on Saturday, June 17th. BidaskClub lowered shares of Core Laboratories N.V. from a sell rating to a strong sell rating in a research note on Monday, August 14th. Scotiabank set a $136.00 price target on shares of Core Laboratories N.V. and gave the company a hold rating in a research report on Saturday, April 22nd. ValuEngine upgraded shares of Core Laboratories N.V. from a sell rating to a hold rating in a research report on Friday, August 4th. Finally, Morgan Stanley reduced their price target on shares of Core Laboratories N.V. from $130.00 to $125.00 and set an overweight rating for the company in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Core Laboratories N.V. has an average rating of Hold and a consensus price target of $117.17.
Core Laboratories N.V. (CLB) traded up 0.92% on Friday, reaching $89.55. 832,204 shares of the company’s stock traded hands. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 54.94 and a beta of 1.60. The stock’s 50 day moving average is $100.15 and its 200 day moving average is $107.78. Core Laboratories N.V. has a 52-week low of $87.83 and a 52-week high of $125.83.
Core Laboratories N.V. (NYSE:CLB) last announced its quarterly earnings data on Monday, July 24th. The oil and gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The business had revenue of $163.90 million for the quarter, compared to analyst estimates of $168.23 million. Core Laboratories N.V. had a net margin of 11.80% and a return on equity of 49.29%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, equities research analysts predict that Core Laboratories N.V. will post $2.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 17th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. Core Laboratories N.V.’s payout ratio is 134.15%.
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An institutional investor recently raised its position in Core Laboratories N.V. stock. The Manufacturers Life Insurance Company increased its stake in shares of Core Laboratories N.V. (NYSE:CLB) by 63.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,128 shares of the oil and gas company’s stock after buying an additional 439 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Core Laboratories N.V. were worth $114,000 as of its most recent SEC filing.
About Core Laboratories N.V.
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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