$123.30 Million in Sales Expected for Core Laboratories (NYSE:CLB) This Quarter

Equities research analysts expect Core Laboratories (NYSE:CLB) to report sales of $123.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Core Laboratories’ earnings, with the highest sales estimate coming in at $123.60 million and the lowest estimate coming in at $123.00 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%. The business is expected to issue its next quarterly earnings results on Wednesday, October 20th.

On average, analysts expect that Core Laboratories will report full-year sales of $480.13 million for the current fiscal year, with estimates ranging from $475.00 million to $485.70 million. For the next fiscal year, analysts anticipate that the firm will report sales of $551.57 million, with estimates ranging from $539.00 million to $558.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Core Laboratories.

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

A number of research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Core Laboratories from $20.00 to $17.50 and set a “neutral” rating on the stock in a research report on Friday, August 20th. 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 research report on Tuesday, August 3rd. cut shares of Core Laboratories from a “neutral” rating to a “sell” rating and increased their price target for the stock from $30.00 to $36.00 in a research report on Monday, June 14th. Finally, Citigroup cut shares of Core Laboratories from a “neutral” rating to a “sell” rating and raised their target price for the company from $30.00 to $36.00 in a report on Monday, June 14th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.79.

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its stake in shares of 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 worth $80,275,000 after buying an additional 1,093,166 shares during the last quarter. BlackRock Inc. grew its holdings in Core Laboratories by 18.1% in 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 buying an additional 836,653 shares during the period. Fred Alger Management LLC grew its holdings in Core Laboratories by 35.1% in 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 buying an additional 829,502 shares during the period. Morgan Stanley grew its holdings in shares of Core Laboratories by 318.5% during the 2nd quarter. Morgan Stanley now owns 620,718 shares of the oil and gas company’s stock worth $24,177,000 after purchasing an additional 472,415 shares during the period. Finally, AKO Capital LLP grew its holdings in shares of 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 worth $53,167,000 after purchasing an additional 347,797 shares during the period. 98.55% of the stock is owned by institutional investors.

Shares of NYSE CLB opened at $27.19 on Friday. Core Laboratories has a one year low of $13.43 and a one year high of $49.87. The firm has a market cap of $1.26 billion, a PE ratio of 37.76, a PEG ratio of 1.11 and a beta of 3.29. The firm has a fifty day moving average of $29.21 and a 200 day moving average of $33.27. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.79 and a current ratio of 2.21.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 24th. Investors of record on Monday, August 9th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, August 6th. Core Laboratories’s dividend payout ratio is presently 5.00%.

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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