Core Laboratories (NYSE:CLB) Issues Q4 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.20-0.25 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $128.5-135.5 million, compared to the consensus revenue estimate of $134.60 million. Core Laboratories also updated its Q4 2024 guidance to 0.200-0.250 EPS.

Core Laboratories Price Performance

NYSE:CLB traded up $1.85 during trading hours on Thursday, hitting $18.93. 684,769 shares of the stock were exchanged, compared to its average volume of 434,758. The firm’s fifty day moving average price is $18.54 and its 200 day moving average price is $18.96. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The company has a market cap of $887.82 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 current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. 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 analyst estimates of $134.16 million. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 4th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Analysts Set New Price Targets

A number of analysts have commented on CLB shares. Bank of America cut their price objective on shares of 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 research report on Tuesday, September 17th. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus raised their target price 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 analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.