Core Laboratories (NYSE:CLB) Updates Q3 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.23-0.27 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $131-137 million, compared to the consensus revenue estimate of $136.07 million. Core Laboratories also updated its Q3 2024 guidance to 0.230-0.270 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America reduced their target price on Core Laboratories from $16.00 to $15.00 and set an underperform rating for the company in a research note on Monday, July 15th. Piper Sandler reduced their target price on Core Laboratories from $18.00 to $17.00 and set a neutral rating for the company in a research note on Monday, July 15th. Stifel Nicolaus upped 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. Finally, StockNews.com downgraded Core Laboratories from a hold rating to a sell rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Reduce and a consensus target price of $18.50.

Core Laboratories Trading Down 0.7 %

NYSE:CLB traded down $0.18 during trading hours on Friday, hitting $24.17. The company had a trading volume of 519,729 shares, compared to its average volume of 455,912. The company has a current ratio of 2.68, a quick ratio of 1.85 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $19.76 and a 200 day moving average of $17.39. The company has a market cap of $1.13 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.39 and a beta of 2.41. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $130.58 million during the quarter, compared to analysts’ expectations of $132.85 million. Core Laboratories had a return on equity of 15.42% and a net margin of 5.44%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts expect that Core Laboratories will post 0.71 earnings per share for the current year.

Core Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is 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.