Core Laboratories (CLB) Updates Q2 2019 Earnings Guidance

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Core Laboratories (NYSE:CLB) issued an update on its second quarter 2019 earnings guidance on Wednesday morning. 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.

Shares of CLB stock traded down $1.61 on Wednesday, hitting $72.95. 485,600 shares of the stock traded hands, compared to its average volume of 561,808. The company has a current ratio of 2.25, a quick ratio of 1.81 and a debt-to-equity ratio of 1.80. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.58 and a beta of 1.86. Core Laboratories has a twelve month low of $56.72 and a twelve month high of $130.34.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, January 30th. The oil and gas company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $173.20 million for the quarter, compared to analyst estimates of $173.90 million. Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts predict that Core Laboratories will post 2.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, April 25th. This represents a $2.20 annualized dividend and a dividend yield of 3.02%.

Several analysts recently issued reports 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 objective on the stock in a report on Wednesday, April 3rd. UBS Group set a $72.00 price objective on shares of Core Laboratories and gave the company a hold rating in a report on Saturday, February 2nd. Tudor Pickering upgraded shares of Core Laboratories from a hold rating to a buy rating in a report on Monday, February 25th. Citigroup reduced their price objective on shares of Core Laboratories from $76.00 to $66.00 and set a neutral rating on the stock in a report on Friday, January 4th. Finally, Piper Jaffray Companies set a $70.00 price objective on shares of Core Laboratories and gave the company a hold rating in a report 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 given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $89.64.

In other news, CAO Kevin Daniels sold 428 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $66.25, for a total transaction of $28,355.00. Following the completion of the transaction, the chief accounting officer now directly owns 352 shares of the company’s stock, valued at $23,320. The sale was disclosed in a 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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Earnings History and Estimates for Core Laboratories (NYSE:CLB)

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