Core Laboratories (NYSE:CLB) Updates Q1 2022 Earnings Guidance

Core Laboratories (NYSE:CLBGet Rating) updated its first quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.050-$0.080 for the period, compared to the Thomson Reuters consensus estimate of $0.200. The company issued revenue guidance of $110 million-$113 million, compared to the consensus revenue estimate of $110.23 million.

A number of research firms have issued reports on CLB. Morgan Stanley raised their target price on Core Laboratories from $30.00 to $35.00 and gave the company an equal weight rating in a research note on Monday. StockNews.com started coverage on shares of Core Laboratories in a research report on Thursday, March 31st. They set a hold rating for the company. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Core Laboratories currently has a consensus rating of Hold and an average price target of $31.30.

CLB traded down $0.18 during trading on Wednesday, reaching $32.64. The company had a trading volume of 5,716 shares, compared to its average volume of 535,983. The firm’s 50-day simple moving average is $29.43 and its 200 day simple moving average is $27.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.58 and a current ratio of 2.08. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 76.33 and a beta of 2.79. Core Laboratories has a 12-month low of $21.08 and a 12-month high of $49.87.

Core Laboratories (NYSE:CLBGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The oil and gas company reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. The firm had revenue of $125.14 million during the quarter, compared to analyst estimates of $122.39 million. Core Laboratories had a net margin of 4.20% and a return on equity of 21.03%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. On average, sell-side analysts expect that Core Laboratories will post 0.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 7th. Stockholders of record on Monday, February 14th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, February 11th. Core Laboratories’s dividend payout ratio (DPR) is 9.30%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG increased its stake in Core Laboratories by 14.3% in the 4th quarter. Deutsche Bank AG now owns 3,679 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 459 shares during the period. Alliancebernstein L.P. increased its holdings in Core Laboratories by 7.7% in the fourth quarter. Alliancebernstein L.P. now owns 15,271 shares of the oil and gas company’s stock worth $341,000 after buying an additional 1,098 shares during the last quarter. California State Teachers Retirement System raised its position in Core Laboratories by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 39,127 shares of the oil and gas company’s stock valued at $873,000 after acquiring an additional 1,234 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Core Laboratories by 4.9% in the fourth quarter. Nuveen Asset Management LLC now owns 49,225 shares of the oil and gas company’s stock valued at $1,098,000 after acquiring an additional 2,288 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Core Laboratories by 2.6% in the fourth quarter. Legal & General Group Plc now owns 124,315 shares of the oil and gas company’s stock worth $2,773,000 after acquiring an additional 3,183 shares in the last quarter. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Company Profile (Get Rating)

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 through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir 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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