Core Laboratories (CLB) Expected to Post Quarterly Sales of $173.57 Million

Brokerages expect Core Laboratories (NYSE:CLB) to post $173.57 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Core Laboratories’ earnings, with the lowest sales estimate coming in at $173.10 million and the highest estimate coming in at $174.00 million. Core Laboratories posted sales of $175.48 million in the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Core Laboratories will report full year sales of $715.49 million for the current year, with estimates ranging from $707.63 million to $724.70 million. For the next fiscal year, analysts forecast that the company will post sales of $786.23 million, with estimates ranging from $775.04 million to $797.20 million. Zacks’ sales averages are an average based on a survey of analysts that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $169.19 million during the quarter, compared to analyst estimates of $166.79 million. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. Core Laboratories’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS.

CLB has been the subject of several analyst reports. Stifel Nicolaus set a $75.00 price objective on Core Laboratories and gave the stock a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Wednesday, April 3rd. Finally, Tudor Pickering upgraded Core Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.45.

In related news, CAO Kevin Daniels sold 428 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $66.25, for a total value of $28,355.00. Following the completion of the transaction, the chief accounting officer now owns 352 shares of the company’s stock, valued at approximately $23,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLB. Vanguard Group Inc boosted its holdings in shares of Core Laboratories by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 3,895,451 shares of the oil and gas company’s stock valued at $451,209,000 after purchasing an additional 64,032 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Core Laboratories by 1.1% in the 4th quarter. Arizona State Retirement System now owns 31,733 shares of the oil and gas company’s stock valued at $1,893,000 after acquiring an additional 340 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Core Laboratories by 9.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,040 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 360 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Core Laboratories by 92.4% in the 4th quarter. Rhumbline Advisers now owns 72,796 shares of the oil and gas company’s stock valued at $4,343,000 after acquiring an additional 34,959 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in shares of Core Laboratories by 89.1% in the 4th quarter. Dupont Capital Management Corp now owns 22,783 shares of the oil and gas company’s stock valued at $1,359,000 after acquiring an additional 10,733 shares during the last quarter.

NYSE:CLB opened at $48.96 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.17 billion, a PE ratio of 22.81, a P/E/G ratio of 1.92 and a beta of 1.95. Core Laboratories has a one year low of $46.32 and a one year high of $129.43.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Friday, April 26th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.49%. The ex-dividend date was Thursday, April 25th.

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

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