Core Laboratories (NYSE:CLB) Issues Q4 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.200-0.250 for the period, compared to the consensus estimate of 0.260. The company issued revenue guidance of $128.5 million-$135.5 million, compared to the consensus revenue estimate of $136.9 million. Core Laboratories also updated its Q4 guidance to $0.20-0.25 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLB. Stifel Nicolaus raised their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Bank of America decreased their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Piper Sandler cut their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, StockNews.com lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, Core Laboratories presently has an average rating of “Hold” and an average price target of $18.00.

Core Laboratories Trading Up 2.7 %

NYSE CLB traded up $0.51 during mid-day trading on Friday, reaching $19.45. 166,315 shares of the stock were exchanged, compared to its average volume of 433,460. The business’s fifty day simple moving average is $18.53 and its 200 day simple moving average is $18.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The stock has a market capitalization of $912.21 million, a PE ratio of 21.51, a PEG ratio of 1.08 and a beta of 2.36. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be issued a $0.01 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 4.55%.

About Core Laboratories

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.