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

Core Laboratories (NYSE:CLB) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.190-0.230 for the period, compared to the consensus 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.

Core Laboratories Stock Performance

Shares of Core Laboratories stock traded down $0.13 on Friday, reaching $16.94. 522,546 shares of the company were exchanged, compared to its average volume of 468,502. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.72 and a current ratio of 2.53. The company’s 50-day moving average is $16.29 and its two-hundred day moving average is $17.66. The firm has a market cap of $793.81 million, a price-to-earnings ratio of 19.55, a P/E/G ratio of 0.94 and a beta of 2.40. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94.

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

Core Laboratories Announces Dividend

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

Analyst Ratings Changes

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

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.