Zacks: Brokerages Anticipate Core Laboratories (CLB) to Announce $0.58 EPS

Wall Street analysts expect Core Laboratories (NYSE:CLB) to report $0.58 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Core Laboratories’ earnings. Core Laboratories reported earnings of $0.41 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.5%. The business is expected to report its next quarterly earnings results on Wednesday, January 24th.

According to Zacks, analysts expect that Core Laboratories will report full-year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.00. For the next fiscal year, analysts expect that the firm will report earnings of $2.70 per share, with EPS estimates ranging from $2.38 to $2.92. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Core Laboratories.

Core Laboratories (NYSE:CLB) last posted its earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The firm had revenue of $166.20 million during the quarter, compared to the consensus estimate of $160.94 million. Core Laboratories had a net margin of 12.06% and a return on equity of 52.89%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS.

CLB has been the subject of a number of research analyst reports. Loop Capital dropped their target price on shares of Core Laboratories from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Royal Bank of Canada lowered their price objective on shares of Core Laboratories from $115.00 to $112.00 and set an “outperform” rating for the company in a research report on Thursday, September 7th. ValuEngine downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Cowen reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Core Laboratories in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Core Laboratories currently has an average rating of “Hold” and an average target price of $110.20.

A number of hedge funds have recently bought and sold shares of CLB. The Manufacturers Life Insurance Company lifted its stake in Core Laboratories by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 439 shares during the last quarter. Advisory Services Network LLC lifted its stake in Core Laboratories by 33.3% in the second quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 341 shares during the last quarter. Toronto Dominion Bank lifted its stake in Core Laboratories by 243.6% in the third quarter. Toronto Dominion Bank now owns 1,866 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 1,323 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Core Laboratories in the second quarter valued at $203,000. Finally, Park National Corp OH bought a new stake in shares of Core Laboratories during the third quarter valued at about $209,000.

Core Laboratories (NYSE:CLB) traded up $1.00 on Friday, reaching $109.55. 390,061 shares of the company were exchanged, compared to its average volume of 461,442. The firm has a market cap of $4,792.20, a P/E ratio of 62.96 and a beta of 1.56. Core Laboratories has a 12-month low of $86.55 and a 12-month high of $125.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.81 and a current ratio of 2.18.

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Core Laboratories Company Profile

Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.

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