Core Laboratories (NYSE:CLB) Releases Q4 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.20-0.25 for the period, compared to the consensus 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.

Core Laboratories Stock Performance

NYSE CLB traded up $1.85 on Thursday, hitting $18.93. 684,769 shares of the company’s stock traded hands, compared to its average volume of 434,758. The firm’s 50-day moving average price is $18.54 and its two-hundred day moving average price is $18.96. The firm has a market capitalization of $887.82 million, a PE ratio of 21.03, a P/E/G 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. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, analysts expect that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on CLB shares. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Piper Sandler lowered their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Bank of America dropped their price target 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. Finally, Stifel Nicolaus upped their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research 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 company’s stock. Based on data from MarketBeat, Core Laboratories currently has a consensus rating of “Hold” and a consensus price target of $18.00.

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.