Core Laboratories Forecasted to Earn FY2018 Earnings of $2.15 Per Share (CLB)

Core Laboratories (NYSE:CLB) – Stock analysts at Piper Jaffray Companies reduced their FY2018 earnings per share estimates for Core Laboratories in a research report issued on Thursday, October 25th. Piper Jaffray Companies analyst I. Macpherson now anticipates that the oil and gas company will post earnings per share of $2.15 for the year, down from their previous estimate of $2.37. Piper Jaffray Companies has a “Hold” rating and a $87.00 price target on the stock. Piper Jaffray Companies also issued estimates for Core Laboratories’ Q4 2018 earnings at $0.50 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.71 EPS and FY2020 earnings at $3.35 EPS.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The business had revenue of $182.15 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same quarter last year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year.



Several other research firms have also recently commented on CLB. Stifel Nicolaus raised shares of Core Laboratories from a “hold” rating to a “buy” rating and lowered their target price for the company from $117.00 to $110.00 in a research note on Monday. Citigroup cut shares of Core Laboratories from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. Edward Jones assumed coverage on shares of Core Laboratories in a research note on Tuesday, September 4th. They set a “buy” rating on the stock. Royal Bank of Canada lowered their target price on shares of Core Laboratories to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, July 5th. Finally, Morgan Stanley assumed coverage on shares of Core Laboratories in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $125.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $111.36.

CLB stock opened at $84.02 on Monday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31. Core Laboratories has a fifty-two week low of $83.15 and a fifty-two week high of $130.34. The stock has a market capitalization of $3.85 billion, a P/E ratio of 42.01, a PEG ratio of 2.41 and a beta of 1.46.

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Core Laboratories by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 277,192 shares of the oil and gas company’s stock valued at $29,998,000 after purchasing an additional 8,287 shares in the last quarter. UBS Group AG boosted its position in shares of Core Laboratories by 32.6% during the 1st quarter. UBS Group AG now owns 18,842 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 4,629 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Core Laboratories during the 1st quarter valued at about $595,000. LPL Financial LLC boosted its position in shares of Core Laboratories by 35.5% during the 1st quarter. LPL Financial LLC now owns 2,950 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 773 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Core Laboratories by 41.1% during the 1st quarter. Guggenheim Capital LLC now owns 16,190 shares of the oil and gas company’s stock valued at $1,751,000 after purchasing an additional 4,718 shares in the last quarter.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $2.20 annualized dividend and a yield of 2.62%. Core Laboratories’s payout ratio is 110.00%.

About Core Laboratories

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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Earnings History and Estimates for Core Laboratories (NYSE:CLB)

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