Core Laboratories (NYSE:CLB) Announces Earnings Results

Core Laboratories (NYSE:CLB) issued its earnings results on Wednesday. The oil and gas company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04, Briefing.com reports. The firm had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. 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 Performance

CLB traded up $1.41 during midday trading on Thursday, reaching $18.49. The company’s stock had a trading volume of 173,302 shares, compared to its average volume of 432,275. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.13. The stock has a market cap of $867.18 million, a P/E ratio of 21.03, a PEG ratio of 1.08 and a beta of 2.36. The company has a fifty day simple moving average of $18.54 and a 200 day simple moving average of $18.96. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America dropped their price target on shares of 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 decreased their price objective 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. Finally, StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, Core Laboratories currently has an average rating of “Hold” and an average 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.