Core Laboratories (NYSE:CLB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Core Laboratories (NYSE:CLB) released its quarterly earnings data on Wednesday. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04, Briefing.com reports. The firm had revenue of $134.40 million during the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. Core Laboratories updated its Q4 2024 guidance to 0.200-0.250 EPS and its Q4 guidance to $0.20-0.25 EPS.

Core Laboratories Stock Performance

Shares of NYSE:CLB traded up $1.29 during trading on Thursday, hitting $18.37. 180,703 shares of the stock traded hands, compared to its average volume of 432,311. The company has a fifty day moving average price of $18.54 and a two-hundred day moving average price of $18.96. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The company has a market cap of $861.55 million, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.08 and a beta of 2.36.

Analyst Ratings Changes

Several brokerages have recently issued reports 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 on the stock in a research report on Monday, July 15th. Stifel Nicolaus increased their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Piper Sandler decreased 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 report on Monday, July 15th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.00.

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.