Core Laboratories (NYSE:CLB) Issues Earnings Results, Beats Estimates By $0.04 EPS

Core Laboratories (NYSE:CLB) posted its earnings results on Wednesday. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04, Briefing.com reports. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $134.16 million. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Core Laboratories updated its Q4 2024 guidance to 0.200-0.250 EPS and its Q4 guidance to $0.20-0.25 EPS.

Core Laboratories Trading Up 2.6 %

Shares of CLB stock traded up $0.50 during trading hours on Friday, reaching $19.44. 285,303 shares of the stock traded hands, compared to its average volume of 434,035. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $911.74 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. The business has a fifty day moving average price of $18.53 and a 200 day moving average price of $18.96.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio is 4.55%.

Wall Street Analysts Forecast Growth

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

Core Laboratories Company Profile

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.