Core Laboratories (NYSE:CLB) Issues Q3 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.23-0.27 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $131-137 million, compared to the consensus revenue estimate of $136.07 million. Core Laboratories also updated its Q3 2024 guidance to 0.230-0.270 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on CLB. Piper Sandler lowered 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. Bank of America reduced their target price on Core Laboratories from $16.00 to $15.00 and set an underperform rating for the company in a report on Monday, July 15th. StockNews.com downgraded Core Laboratories from a hold rating to a sell rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus boosted their target price on Core Laboratories from $17.00 to $18.00 and gave the company a hold rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Reduce and an average price target of $17.50.

Core Laboratories Stock Performance

CLB traded up $2.34 on Thursday, hitting $24.36. 1,113,415 shares of the company traded hands, compared to its average volume of 455,463. The company has a 50 day moving average of $19.76 and a 200-day moving average of $17.39. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.14 billion, a PE ratio of 27.68, a PEG ratio of 1.41 and a beta of 2.41. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $27.94.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million during the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts anticipate that Core Laboratories will post 0.71 earnings per share for the current year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.16%. The ex-dividend date is Monday, August 5th. Core Laboratories’s dividend payout ratio is presently 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.