Core Laboratories (NYSE:CLB) Updates Q4 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.200-0.250 for the period, compared to the consensus EPS estimate of 0.260. The company issued revenue guidance of $128.5 million-$135.5 million, compared to the consensus revenue estimate of $136.9 million. Core Laboratories also updated its Q4 guidance to $0.20-0.25 EPS.

Analyst Ratings Changes

A number of brokerages have weighed in on CLB. StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Stifel Nicolaus raised their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Piper Sandler lowered 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, Bank of America lowered their price target 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. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.00.

Core Laboratories Price Performance

Shares of NYSE CLB traded up $0.51 during mid-day trading on Friday, reaching $19.45. 166,315 shares of the company traded hands, compared to its average volume of 433,460. The firm has a market cap of $912.21 million, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The stock has a fifty day simple moving average of $18.53 and a 200-day simple moving average of $18.96.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 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 company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

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

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.