Core Laboratories (NYSE:CLB) Expected to Announce Quarterly Sales of $111.74 Million

Equities research analysts forecast that Core Laboratories (NYSE:CLB) will post $111.74 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Core Laboratories’ earnings. The lowest sales estimate is $110.90 million and the highest is $112.31 million. Core Laboratories posted sales of $152.40 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 28th.

According to Zacks, analysts expect that Core Laboratories will report full year sales of $473.68 million for the current financial year, with estimates ranging from $465.00 million to $480.31 million. For the next fiscal year, analysts forecast that the company will post sales of $519.69 million, with estimates ranging from $498.00 million to $541.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Core Laboratories.

Core Laboratories (NYSE:CLB) last released its earnings results on Tuesday, January 26th. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $113.80 million during the quarter, compared to the consensus estimate of $108.40 million. Core Laboratories had a negative net margin of 19.02% and a positive return on equity of 45.39%. Core Laboratories’s revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share.

Several research analysts recently weighed in on CLB shares. Cowen cut their target price on Core Laboratories from $26.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 11th. Morgan Stanley upgraded Core Laboratories from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 10th. Smith Barney Citigroup boosted their target price on Core Laboratories from $16.00 to $30.00 in a report on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Core Laboratories from $16.00 to $30.00 in a research report on Tuesday, December 15th. Finally, Wolfe Research raised shares of Core Laboratories from an “underperform” rating to a “market perform” rating in a research report on Monday, January 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $21.22.

A number of institutional investors have recently added to or reduced their stakes in CLB. Marshall Wace LLP purchased a new position in Core Laboratories in the 1st quarter valued at about $30,000. Aigen Investment Management LP purchased a new stake in shares of Core Laboratories during the third quarter worth about $36,000. Canada Pension Plan Investment Board lifted its stake in shares of Core Laboratories by 21,230.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,133 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 2,123 shares in the last quarter. Veriti Management LLC acquired a new position in shares of Core Laboratories in the fourth quarter worth about $96,000. Finally, Gagnon Securities LLC purchased a new position in Core Laboratories in the third quarter valued at about $155,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CLB opened at $35.82 on Friday. Core Laboratories has a fifty-two week low of $6.68 and a fifty-two week high of $38.12. The company’s fifty day moving average is $34.96 and its two-hundred day moving average is $24.53. The firm has a market cap of $1.60 billion, a PE ratio of -15.78, a price-to-earnings-growth ratio of 12.83 and a beta of 3.38. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 2.64.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Monday, January 25th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, January 22nd. This represents a $0.04 annualized dividend and a dividend yield of 0.11%. Core Laboratories’s dividend payout ratio (DPR) is presently 2.23%.

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. The company operates in two segments, Reservoir Description and Production Enhancement. 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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