Core Laboratories (NYSE:CLB) announced its third-quarter 2014 earnings. It was disappointing, since it didn't beat expectations. New technology drove the most profitable quarter ever, with all-time quarterly highs for earnings per share, and CLB continues to return millions to shareholders. However, this still wasn't enough, and the stock price declined over 10% after the earnings announcement.
I think the company is fairly to slightly undervalued. The stock price decline allowed me an initial position at around $125.00 per share. CLB is a fantastic company with a very wide economic moat. The long-term prospects are very favorable for those with patience.
What Does The Company Do?
First off, CLB is headquartered in the Netherlands, but the stock trades on New York Stock Exchange [NYSE]. There is a Dutch withholding tax rate of 15% for dividends paid to shareholders based in the United States. I'm pretty sure that I can claim the withheld dividends when I file my…
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(October 26, 2014 - 9:39 AM EDT)
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