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

Core Laboratories (NYSE:CLB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.200-0.250 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CLB. Bank of America decreased their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. StockNews.com lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Piper Sandler cut their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. 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 research report on Friday, July 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Core Laboratories Price Performance

Shares of NYSE CLB traded up $0.49 during midday trading on Friday, reaching $19.43. The company’s stock had a trading volume of 285,303 shares, compared to its average volume of 434,035. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The business’s 50 day moving average price is $18.53 and its two-hundred day moving average price is $18.97. The company has a market cap of $911.27 million, a P/E ratio of 22.09, a P/E/G ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. Core Laboratories’s revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

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