Brokerages Expect Core Laboratories (CLB) Will Announce Quarterly Sales of $173.57 Million

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

On average, analysts expect that Core Laboratories will report full year sales of $715.49 million for the current financial year, with estimates ranging from $707.63 million to $724.70 million. For the next fiscal year, analysts expect that the firm will report sales of $786.23 million, with estimates ranging from $775.04 million to $797.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Core Laboratories.

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

CLB has been the topic of a number of recent research reports. UBS Group set a $72.00 target price on Core Laboratories and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Zacks Investment Research upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Tudor Pickering upgraded Core Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Finally, Stifel Nicolaus set a $75.00 price target on Core Laboratories and gave the stock a “buy” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $86.45.

In related news, CAO Kevin Daniels sold 428 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. M Holdings Securities Inc. increased its holdings in shares of Core Laboratories by 18.6% in the first quarter. M Holdings Securities Inc. now owns 4,384 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 688 shares during the last quarter. FMR LLC increased its holdings in shares of Core Laboratories by 173.3% in the first quarter. FMR LLC now owns 40,935 shares of the oil and gas company’s stock valued at $2,821,000 after purchasing an additional 25,955 shares during the last quarter. Covenant Partners LLC acquired a new stake in shares of Core Laboratories in the first quarter valued at approximately $389,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Core Laboratories in the first quarter valued at approximately $227,000. Finally, HighTower Advisors LLC increased its holdings in shares of Core Laboratories by 36.0% in the first quarter. HighTower Advisors LLC now owns 11,042 shares of the oil and gas company’s stock valued at $768,000 after purchasing an additional 2,925 shares during the last quarter.

Shares of CLB traded down $2.25 during mid-day trading on Thursday, reaching $51.93. The company had a trading volume of 857,389 shares, compared to its average volume of 588,684. Core Laboratories has a 52-week low of $51.20 and a 52-week high of $129.43. 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 company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 2.13 and a beta of 1.80.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Friday, April 26th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.20 dividend on an annualized basis and a yield of 4.24%.

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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