Core Laboratories (NYSE:CLB) Announces Earnings Results

Core Laboratories (NYSE:CLB) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $134.16 million. During the same quarter last year, the business posted $0.22 earnings per share. 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 Stock Up 7.6 %

Core Laboratories stock traded up $1.29 during mid-day trading on Thursday, reaching $18.37. 180,703 shares of the company’s stock were exchanged, compared to its average volume of 432,311. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.13. The company has a market cap of $861.55 million, a P/E ratio of 21.03, a P/E/G ratio of 1.08 and a beta of 2.36. The company has a fifty day moving average of $18.54 and a 200-day moving average of $18.96.

Analyst Ratings Changes

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

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.