Core Laboratories (CLB) Releases Q2 2019 Earnings Guidance
Core Laboratories (NYSE:CLB) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.47-0.50 for the period, compared to the Thomson Reuters consensus estimate of $0.49. The company issued revenue guidance of $172-175 million, compared to the consensus revenue estimate of $174.29 million.Core Laboratories also updated its Q2 guidance to $0.47-0.50 EPS.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Core Laboratories from a hold rating to a buy rating and set a $77.00 price target on the stock in a research note on Wednesday, April 3rd. Tudor Pickering upgraded shares of Core Laboratories from a hold rating to a buy rating in a research note on Monday, February 25th. UBS Group set a $72.00 price target on shares of Core Laboratories and gave the stock a hold rating in a research note on Saturday, February 2nd. Citigroup dropped their price target on shares of Core Laboratories from $76.00 to $66.00 and set a neutral rating on the stock in a research note on Friday, January 4th. Finally, Piper Jaffray Companies set a $70.00 price target on shares of Core Laboratories and gave the stock a hold rating in a research note on Wednesday, December 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $89.64.
NYSE CLB traded down $8.49 on Thursday, reaching $64.46. The company had a trading volume of 1,652,426 shares, compared to its average volume of 575,623. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.81 and a current ratio of 2.25. The company has a market cap of $3.31 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.61 and a beta of 1.86. Core Laboratories has a 12 month low of $56.72 and a 12 month high of $130.34.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.41%.
In other news, CAO Kevin Daniels sold 428 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $66.25, for a total value of $28,355.00. Following the sale, the chief accounting officer now directly owns 352 shares in the company, valued at approximately $23,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.
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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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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