Dahlman Rose Cuts Price Target on Core Laboratories (CLB) by ~29%, Lowers Estimates
Tweet
Share
E-mailGet Alerts CLB Hot Sheet
Price: $12.45 +0.48%
Rating Summary:
9 Buy, 13 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 13 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Dahlman Rose is reaffirming its Hold rating on shares of Core Laboratories (NYSE: CLB), but is slashing its price target from $105 to $75.
Due to lower than previously expected revenue growth in its Production Enhancement business, the firm is reducing its 2011, 2012, and 2013 EPS estimates from $1.11, $5.00, and $6.30 to $1.10, $4.90, and $6.05.
The company's September quarter miss largely reflects weaker than previously forecasted revenues in the Reservoir Description and Reservoir Management. Natural gas sales account for roughly 30 percent of the company's total business and missed the company's outlook by $7-$8 million in the third quarter.
For more ratings news on Core Laboratories click here and for the rating history of Core Laboratories click here.
Shares of Core Laboratories closed at $96.76 yesterday.
Due to lower than previously expected revenue growth in its Production Enhancement business, the firm is reducing its 2011, 2012, and 2013 EPS estimates from $1.11, $5.00, and $6.30 to $1.10, $4.90, and $6.05.
The company's September quarter miss largely reflects weaker than previously forecasted revenues in the Reservoir Description and Reservoir Management. Natural gas sales account for roughly 30 percent of the company's total business and missed the company's outlook by $7-$8 million in the third quarter.
For more ratings news on Core Laboratories click here and for the rating history of Core Laboratories click here.
Shares of Core Laboratories closed at $96.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Johnson Rice Upgrades Core Laboratories (CLB) to Buy
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- KinderCare Learning Companies (KLC) PT Lowered to $4.50 at UBS
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
