Core Laboratories (NYSE:CLB – Get Free Report) 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.
View Our Latest Research Report on CLB
Core Laboratories Price Performance
Core Laboratories (NYSE:CLB – Get Free Report) 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.
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