Core Laboratories NV (CLB) Releases Quarterly Earnings Results, Meets Estimates
Core Laboratories NV (NYSE:CLB) issued its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Core Laboratories NV had a return on equity of 344.55% and a net margin of 11.81%. The firm earned $143.50 million during the quarter, compared to the consensus estimate of $155.72 million. During the same period in the previous year, the firm posted $0.83 EPS. The company’s quarterly revenue was down 27.3% compared to the same quarter last year.
Shares of Core Laboratories NV (NYSE:CLB) opened at 115.10 on Thursday. Core Laboratories NV has a 52 week low of $84.50 and a 52 week high of $135.49. The stock’s 50 day moving average is $110.36 and its 200 day moving average is $117.53. The stock has a market capitalization of $5.08 billion, a PE ratio of 61.06 and a beta of 1.45.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, October 19th. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. Core Laboratories NV’s dividend payout ratio is presently 117.65%.
Several research analysts recently issued reports on the company. Zacks Investment Research upgraded Core Laboratories NV from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Wednesday, July 20th. JPMorgan Chase & Co. restated a “buy” rating on shares of Core Laboratories NV in a research report on Thursday, June 30th. Citigroup Inc. cut their price objective on Core Laboratories NV from $123.00 to $118.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. DA Davidson started coverage on Core Laboratories NV in a research report on Wednesday, October 5th. They set a “buy” rating and a $136.00 price objective for the company. Finally, Credit Suisse Group AG started coverage on Core Laboratories NV in a report on Thursday, September 1st. They issued a “neutral” rating and a $115.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $121.61.
Hedge funds have recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in shares of Core Laboratories NV during the second quarter worth $12,650,000. Geode Capital Management LLC boosted its stake in shares of Core Laboratories NV by 4.1% in the first quarter. Geode Capital Management LLC now owns 227,422 shares of the company’s stock worth $25,549,000 after buying an additional 8,979 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Core Laboratories NV by 47.1% in the first quarter. AMP Capital Investors Ltd now owns 19,665 shares of the company’s stock worth $2,248,000 after buying an additional 6,300 shares during the last quarter. Boston Partners boosted its stake in shares of Core Laboratories NV by 10.6% in the second quarter. Boston Partners now owns 27,100 shares of the company’s stock worth $3,357,000 after buying an additional 2,587 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Core Laboratories NV by 2.5% in the first quarter. TIAA CREF Investment Management LLC now owns 36,509 shares of the company’s stock worth $4,104,000 after buying an additional 876 shares during the last quarter.
About Core Laboratories NV
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
Receive News & Ratings for Core Laboratories NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Laboratories NV and related companies with MarketBeat.com's FREE daily email newsletter.