Core Laboratories (CLB - Free Report) shares ended the last trading session 14.2% higher at $30.99. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
Core Laboratories stock ended sharply higher on Monday, driven by optimism over crude prices spurred by a supportive macro backdrop, geopolitical tensions and the OPEC+ supply curtailments. The steady increase in commodity prices to more than $100 a barrel has lifted the oilfield service space and contributed to the strength in this leading energy technology solutions provider.
This energy services company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $121.03 million, up 11.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Core Laboratories, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Core Laboratories is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, FMC Technologies (FTI - Free Report) , finished the last trading session 2.8% higher at $7.66. FTI has returned 9.7% over the past month.
FMC Technologies' consensus EPS estimate for the upcoming report has changed -52.9% over the past month to $0.01. Compared to the company's year-ago EPS, this represents a change of +133.3%. FMC Technologies currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Core Laboratories (CLB - Free Report) shares ended the last trading session 14.2% higher at $30.99. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
Core Laboratories stock ended sharply higher on Monday, driven by optimism over crude prices spurred by a supportive macro backdrop, geopolitical tensions and the OPEC+ supply curtailments. The steady increase in commodity prices to more than $100 a barrel has lifted the oilfield service space and contributed to the strength in this leading energy technology solutions provider.
This energy services company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $121.03 million, up 11.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Core Laboratories, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Core Laboratories is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, FMC Technologies (FTI - Free Report) , finished the last trading session 2.8% higher at $7.66. FTI has returned 9.7% over the past month.
FMC Technologies' consensus EPS estimate for the upcoming report has changed -52.9% over the past month to $0.01. Compared to the company's year-ago EPS, this represents a change of +133.3%. FMC Technologies currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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