Core Laboratories Inc. (NYSE: CLB) stock jumped 0.04% on Friday to $24.83 against a previous-day closing price of $24.82. With 0.92 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.52 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $25.16 whereas the lowest price it dropped to was $24.03. The 52-week range on CLB shows that it touched its highest point at $27.94 and its lowest point at $13.19 during that stretch. It currently has a 1-year price target of $23.38. With its current market cap of 1.16 billion, CLB has annualized dividend of $0.04 while the current yield stands at 0.16%. Beta for the stock currently stands at 2.68.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLB was down-trending over the past week, with a drop of -3.50%, but this was up by 0.57% over a month. Three-month performance surged to 10.65% while six-month performance rose 22.86%. The stock gained 35.39% in the past year, while it has gained 22.50% so far this year. A look at the trailing 12-month EPS for CLB yields 0.84 with Next year EPS estimates of 1.15. For the next quarter, that number is 0.22. This implies an EPS growth rate of -1.60% for this year and 34.47% for next year. EPS is expected to grow by 20.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -25.70%.
Float and Shares Shorts:
At present, 46.67 million CLB shares are outstanding with a float of 46.35 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.58 million, which was 11.95% higher than short shares on Jul 30, 2023. In addition to Mr. Lawrence V. Bruno as the firm’s Chairman, CEO, Pres & COO, Mr. Christopher Scott Hill serves as its Sr. VP & CFO.
Through their ownership of 106.73% of CLB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.98% of CLB, in contrast to 44.70% held by mutual funds. Shares owned by individuals account for 0.02%. As the largest shareholder in CLB with 20.63% of the stake, Ariel Investments LLC holds 9,631,723 shares worth 9,631,723. A second-largest stockholder of CLB, BlackRock Fund Advisors, holds 6,972,946 shares, controlling over 14.94% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CLB, holding 5,344,359 shares or 11.45% stake. With a 7.64% stake in CLB, the Ariel Fund is the largest stakeholder. A total of 3,565,025 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 7.09% of CLB stock, is the second-largest Mutual Fund holder. It holds 3,308,972 shares valued at 79.55 million. Vanguard Total Stock Market ETF holds 3.14% of the stake in CLB, owning 1,464,154 shares worth 35.2 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CLB reported revenue of $120.90M and operating income of $11.73M. The EBITDA in the recently reported quarter was $16.01M and diluted EPS was $0.15.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLB analysts setting a high price target of $31.00 and a low target of $19.00, the average target price over the next 12 months is $23.38. Based on these targets, CLB could surge 24.85% to reach the target high and fall by -23.48% to reach the target low. Reaching the average price target will result in a decline of -5.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.