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.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Bank of America lowered their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th. StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Finally, Stifel Nicolaus boosted their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, Core Laboratories currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Core Laboratories Trading Down 1.0 %

Shares of NYSE CLB traded down $0.18 during trading hours on Wednesday, hitting $17.07. 590,211 shares of the company traded hands, compared to its average volume of 433,538. The stock has a market capitalization of $800.58 million, a price-to-earnings ratio of 19.40, a price-to-earnings-growth 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. The company’s 50 day moving average price is $18.59 and its 200 day moving average price is $18.97. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $25.13.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. On average, equities research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

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.