() updated its earnings guidance for the second quarter of 2023 on Thursday. The company gave a range of EPS of $0.20 to $0.24 for the period compared with the consensus estimate of $0.21. The company provided revenue guidance between $130.00 and $135.00 million, which is higher than the consensus estimate of $132.83.
Wall Street analysts weigh in
Many analysts of equity research have commented on the company. Bank of America has downgraded Core Laboratories to a underperform rating from neutral and set the target price at $21,50. In a research note published on Tuesday, 18th April. In a research note published on Tuesday, Core Laboratories was covered. They gave the company a Hold rating. In a Friday research report, Stifel Nicolaus raised their Core Laboratories target price from $24.00 up to $25.00. Trading on Friday saw a $0.05 decline, bringing the price to $22.51. The trading volume was 379,043 compared to the average of 293,352. The company's market cap is $1.05 billion. It has a P/E of 45.02 and a PEG of 0.63. Beta is 2.66. Core Laboratories' 52-week low is $13.19, and its 52-week high is $31.42. The 50-day moving mean for the business is $22.52, and its 200-day moving means are $21.78. The company's debt-to equity ratio is 0.90. It has a quick ratio (1.47) and a current rate of 2.38.
The last time ) released its quarterly results was on Thursday, 2nd February. The oil and gas firm reported $0.20 in earnings per share for the quarter. This was $0.01 higher than the consensus estimate, which was $0.19. The company's revenue for the quarter was $127.57 millions, which is higher than analysts' expectations of $150.12 million. Core Laboratories' return on equity was 15.23%, and its net margin was 4.72%. Revenue was up by 1.9% year-over-year. In the same quarter of the previous year, Core Laboratories earned $0.20 per share. Analysts at Equities Research predict Core Laboratories to post 0.8 earnings for the current fiscal.
Core Laboratories Dividend announcement
Recently, the company announced that it would be paying a quarterly dividend on May 30th. Dividends will be paid to shareholders who were in the record books on Monday, 8th May. This is a $0.04 dividend annualized and yields 0.18%. Ex-dividend day is Friday, 5th May. Core Laboratories has a dividend payout ratio of 8.00%.
Institutional Trading of Core Laboratories
Recent changes in the stakes of large investors has seen them increase or decrease their holdings. Ariel Investments LLC increased its holdings of Core Laboratories shares by 5.1% in the first quarter. Ariel Investments LLC owns 8,198.544 shares worth $259,320,000 of the oil company's stock after purchasing an additional 394,237 shares during the last quarter. BlackRock Inc. increased its holdings of Core Laboratories shares by 2.2% in the first quarter. BlackRock Inc. owns 5,479 023 shares of Core Laboratories' stock, valued at $173 300 000, after purchasing an additional 116 130 shares during the last quarter. Vanguard Group Inc. increased its holdings of Core Laboratories shares by 0.9% in the third quarter. Vanguard Group Inc. owns 5,144.814 shares worth $69,352,000 of the oil company's stock after adding 46,425 more shares during the last quarter. State Street Corp increased its holdings of Core Laboratories shares by 18.6% in the first quarter. State Street Corp owns now 1,348,572 of the oil company's shares valued at $42,663,000, after purchasing an additional 211.873 shares during the last quarter. Bank of America Corp DE increased its holdings of Core Laboratories shares by 19.4% in the first quarter. Bank of America Corp DE owns 647.204 shares of oil and gas company stock, valued at $20.472,000, after purchasing an additional 105.177 shares during the last quarter. Institutional investors and hedge fund own 97.44%.
Core Laboratories Company profile
Core Laboratories NV provides oil and gas companies with services such as reservoir description, production improvement, and reservoir management. These services are patented and proprietary. The company operates in two segments: Reservoir Description and Production Enhancement. The Reservoir Description Segment includes the characterization and analysis of samples of rock, fluid and gas from petroleum reservoirs, as well as analytical and field services for characterizing properties of crude oil, petroleum products, and petroleum products.
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