Wall Street analysts expect Core Laboratories (NYSE:CLB) to announce $121.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Core Laboratories’ earnings, with estimates ranging from $115.70 million to $125.00 million. Core Laboratories posted sales of $169.04 million in the same quarter last year, which suggests a negative year-over-year growth rate of 28.3%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 22nd.
According to Zacks, analysts expect that Core Laboratories will report full year sales of $493.57 million for the current financial year, with estimates ranging from $468.19 million to $515.28 million. For the next financial year, analysts expect that the business will post sales of $456.12 million, with estimates ranging from $416.00 million to $520.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Core Laboratories.
Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Core Laboratories had a negative net margin of 7.21% and a positive return on equity of 46.28%. The firm had revenue of $152.40 million during the quarter, compared to the consensus estimate of $151.37 million. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was down 9.9% compared to the same quarter last year.
CLB has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “buy” rating on shares of Core Laboratories in a research note on Monday, April 27th. Bank of America downgraded Core Laboratories from a “buy” rating to an “underperform” rating in a research note on Monday, March 9th. Morgan Stanley boosted their price target on Core Laboratories from $12.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Piper Sandler dropped their price target on Core Laboratories from $16.50 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. dropped their price target on Core Laboratories from $39.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Core Laboratories currently has a consensus rating of “Hold” and an average price target of $24.21.
Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in shares of Core Laboratories in the first quarter worth about $30,000. FMR LLC increased its holdings in Core Laboratories by 173.3% in the 1st quarter. FMR LLC now owns 40,935 shares of the oil and gas company’s stock worth $2,821,000 after acquiring an additional 25,955 shares during the last quarter. First Trust Advisors LP purchased a new stake in Core Laboratories in the 4th quarter worth about $375,000. State Street Corp increased its holdings in Core Laboratories by 1.5% in the 4th quarter. State Street Corp now owns 754,656 shares of the oil and gas company’s stock worth $28,457,000 after acquiring an additional 11,352 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Core Laboratories by 12.2% in the 4th quarter. Victory Capital Management Inc. now owns 35,255 shares of the oil and gas company’s stock worth $1,328,000 after acquiring an additional 3,823 shares during the last quarter.
Core Laboratories stock traded up $0.92 during trading hours on Tuesday, hitting $21.27. 547,412 shares of the stock traded hands, compared to its average volume of 1,618,803. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.03 and a quick ratio of 1.54. The firm’s 50 day moving average price is $21.17 and its 200-day moving average price is $25.15. The stock has a market capitalization of $945.60 million, a price-to-earnings ratio of -19.88, a P/E/G ratio of 30.11 and a beta of 3.06. Core Laboratories has a 1 year low of $6.68 and a 1 year high of $56.03.
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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