Core Laboratories (NYSE:CLB) Issues Q2 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.19-0.23 for the period, compared to the consensus EPS estimate of $0.21. The company issued revenue guidance of $130-136 million, compared to the consensus revenue estimate of $129.49 million. Core Laboratories also updated its Q2 2024 guidance to 0.190-0.230 EPS.

Core Laboratories Stock Performance

Core Laboratories stock traded down $0.13 on Friday, reaching $16.94. 522,902 shares of the stock were exchanged, compared to its average volume of 375,300. The stock has a market cap of $793.81 million, a PE ratio of 19.25, a PEG ratio of 0.97 and a beta of 2.40. The company has a current ratio of 2.68, a quick ratio of 1.72 and a debt-to-equity ratio of 0.68. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $27.94. The firm has a fifty day moving average price of $16.34 and a two-hundred day moving average price of $17.62.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $129.64 million during the quarter, compared to analyst estimates of $124.47 million. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%. Sell-side analysts anticipate that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, May 3rd. Core Laboratories’s dividend payout ratio is currently 4.55%.

Analyst Ratings Changes

A number of research firms recently weighed in on CLB. Stifel Nicolaus upped their target price on shares of Core Laboratories from $17.00 to $18.00 and gave the company a hold rating in a research note on Friday. StockNews.com raised shares of Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Finally, Bank of America lowered their target price on shares of Core Laboratories from $17.00 to $16.00 and set an underperform rating on the stock in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $18.75.

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.