The Amsterdam, Netherlands-based Core Laboratories NV (NYSE:CLB) lowered its financial guidance for the Q3 on Monday and mentioned lowered rig counts in North America. Core Laboratories’ stock plunged around 8% following the news.
Oilfield services provider anticipates earnings in the range of $1.09 to $1.13 a share for third-quarter on revenues of $240 million to $245 million. Thomson Reuters analysts survey most recently anticipated earnings of $1.22 a share on $255.87 million of revenues for the three months period. Analysts’ forecasts usually exclude onetime items.
The company earlier anticipated earnings of $1.17 a share to $1.25 a share on $250 million to $260 million of revenues.
Core Laboratories reported that the earlier outlook was based upon a flat North American rig count linked with enhanced activity exterior to North America.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Forbes Energy Services Ltd. (NASDAQ:FES) fell -1.14% to settle at $3.46, CGG Veritas (ADR) (NYSE:CGV) moved up +0.67% to end at $33.07 while Ion Geophysical Corp. (NYSE:IO) dropped -0.43% to finish at $6.91 on Monday.
Core Laboratories N.V (NYSE:CLB)’s last session’s volume of 282,265.00 shares was lower than its average volume of 296,353.00 shares. The stock after opening at $121.81 hit high price of $123.51 and then closed at $120.63 by scoring -0.70%.
CLB generated revenue of $956.33 million in the previous twelve months and earned $204.81 million. The Company showed a positive 21.45% in the net profit margin as well as in its operating margin which remained at 29.52%. Company’s annual sales growth for the past five years was 9.53%.
The CLB’s past twelve months’ price to sales ratio was 5.97 and price to cash ratio remained 243.78. As far as the returns are concerned, CLB’s return on equity was recorded as 86.85% and return on investment increased 50.92% while its return on assets stayed at 34.92%.
The stock showed weekly downbeat performance of -5.30% which was maintained for the month at 0.15%. Likewise the positive performance for the quarter was recorded as 5.74% and for the year was 35.55% while the YTD performance remained at 6.61%.
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