Core Laboratories (NYSE:CLB) Issues 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.

Analysts Set New Price Targets

CLB has been the topic of a number of analyst reports. StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Bank of America decreased their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research report on Monday, July 15th. Finally, 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. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, Core Laboratories currently has a consensus rating of “Hold” and an average price target of $18.00.

Core Laboratories Price Performance

Shares of Core Laboratories stock traded up $1.85 on Thursday, hitting $18.93. 684,769 shares of the company traded hands, compared to its average volume of 434,758. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $25.13. The business has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $18.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The stock has a market capitalization of $887.82 million, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. During the same period in the previous year, the firm posted $0.22 EPS. Core Laboratories’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

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

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.