Zacks: Brokerages Expect Core Laboratories (CLB) Will Announce Earnings of $0.65 Per Share


Wall Street analysts expect that Core Laboratories (NYSE:CLB) will post earnings per share of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Core Laboratories’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.64. Core Laboratories posted earnings of $0.52 per share in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is scheduled to issue its next earnings report on Monday, July 23rd.


According to Zacks, analysts expect that Core Laboratories will report full year earnings of $2.67 per share for the current financial year, with EPS estimates ranging from $2.59 to $2.75. For the next financial year, analysts anticipate that the company will post earnings of $3.38 per share, with EPS estimates ranging from $3.13 to $3.58. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Core Laboratories.

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Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, April 25th. The oil and gas company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Core Laboratories had a net margin of 13.24% and a return on equity of 62.69%. The firm had revenue of $170.00 million for the quarter, compared to analysts’ expectations of $171.03 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis.


Several analysts recently weighed in on CLB shares. Royal Bank of Canada set a $125.00 price target on shares of Core Laboratories and gave the company a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Monday, February 5th. TheStreet upgraded shares of Core Laboratories from a “c” rating to a “b-” rating in a report on Thursday, February 1st. ValuEngine cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Piper Jaffray started coverage on shares of Core Laboratories in a report on Tuesday, March 13th. They issued a “neutral” rating and a $96.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Core Laboratories presently has a consensus rating of “Hold” and a consensus target price of $115.63.


Hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Core Laboratories by 60.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,096 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 414 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Core Laboratories during the 4th quarter valued at $139,000. Teachers Advisors LLC boosted its holdings in shares of Core Laboratories by 56.6% during the 4th quarter. Teachers Advisors LLC now owns 1,779 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 643 shares in the last quarter. Callahan Advisors LLC bought a new stake in shares of Core Laboratories during the 4th quarter valued at $201,000. Finally, Regal Investment Advisors LLC bought a new stake in shares of Core Laboratories during the 4th quarter valued at $205,000.


NYSE:CLB traded up $1.00 during trading hours on Tuesday, hitting $124.01. The company had a trading volume of 141,600 shares, compared to its average volume of 445,012. The stock has a market cap of $5.46 billion, a P/E ratio of 62.01 and a beta of 1.38. Core Laboratories has a 52 week low of $121.78 and a 52 week high of $124.17. The company has a quick ratio of 1.76, a current ratio of 2.11 and a debt-to-equity ratio of 1.55.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Friday, April 27th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, April 26th. Core Laboratories’s dividend payout ratio (DPR) is presently 110.00%.


About Core Laboratories

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. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises 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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