Core Laboratories (NYSE:CLB) declared a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Shareholders of record on Friday, October 19th will be given a dividend of 0.55 per share by the oil and gas company on Tuesday, November 20th. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, October 18th.
Core Laboratories has raised its dividend by an average of 3.2% annually over the last three years. Core Laboratories has a payout ratio of 90.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Core Laboratories to earn $3.05 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 72.1%.
Core Laboratories stock opened at $107.25 on Friday. Core Laboratories has a 12-month low of $87.66 and a 12-month high of $130.34. The company has a current ratio of 2.24, a quick ratio of 1.85 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 3.96 and a beta of 1.46.
Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.59. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The firm had revenue of $175.48 million for the quarter, compared to analyst estimates of $174.47 million. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts anticipate that Core Laboratories will post 2.44 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and set a $96.00 price target on shares of Core Laboratories in a research note on Friday, July 27th. Zacks Investment Research raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. cut their price target on Core Laboratories from $121.00 to $118.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. ValuEngine raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Finally, Citigroup lowered Core Laboratories from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $115.15.
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. 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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