Core Laboratories (NYSE:CLB) Updates Q2 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.190-0.230 for the period, compared to the consensus earnings per share estimate of 0.210. The company issued revenue guidance of $130.0 million-$136.0 million, compared to the consensus revenue estimate of $130.1 million. Core Laboratories also updated its Q2 guidance to $0.19-0.23 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Core Laboratories from $17.00 to $18.00 and gave the company a hold rating in a report on Friday. Bank of America reduced their target price on Core Laboratories from $17.00 to $16.00 and set an underperform rating for the company in a report on Monday, April 15th. Finally, StockNews.com raised Core Laboratories from a sell rating to a hold rating in a research report on Saturday, January 20th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, Core Laboratories has an average rating of Hold and an average target price of $18.75.

Core Laboratories Stock Down 0.8 %

Shares of CLB traded down $0.13 during trading hours on Friday, hitting $16.94. 522,546 shares of the company were exchanged, compared to its average volume of 468,502. The company has a market cap of $793.81 million, a PE ratio of 19.55, a PEG ratio of 0.94 and a beta of 2.40. The firm’s 50 day moving average is $16.29 and its 200-day moving average is $17.66. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.72 and a current ratio of 2.53.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a return on equity of 15.90% and a net margin of 8.18%. On average, equities research analysts forecast that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Core Laboratories’s dividend payout ratio (DPR) is presently 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.