Core Laboratories Inc. Expected to Post Q4 2024 Earnings of $0.25 Per Share (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLB) – Zacks Research raised their Q4 2024 earnings per share estimates for shares of Core Laboratories in a research note issued to investors on Tuesday, March 26th. Zacks Research analyst T. Saha now expects that the oil and gas company will post earnings of $0.25 per share for the quarter, up from their previous forecast of $0.24. The consensus estimate for Core Laboratories’ current full-year earnings is $0.81 per share.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to analyst estimates of $127.80 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. During the same period in the previous year, the firm posted $0.23 earnings per share.

A number of other research analysts have also commented on the company. Stifel Nicolaus decreased their price objective on Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, February 5th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and an average price target of $19.88.

Core Laboratories Stock Up 0.5 %

CLB stock opened at $17.08 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $800.37 million, a PE ratio of 19.86, a PEG ratio of 0.52 and a beta of 2.39. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94. The business’s 50 day simple moving average is $15.54 and its 200 day simple moving average is $18.61.

Institutional Trading of Core Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in shares of Core Laboratories by 13.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,484 shares of the oil and gas company’s stock worth $81,000 after buying an additional 410 shares during the last quarter. State of Wyoming lifted its position in shares of Core Laboratories by 43.1% during the 2nd quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock worth $34,000 after buying an additional 436 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Core Laboratories by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock worth $1,253,000 after buying an additional 481 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Core Laboratories by 1.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 57,142 shares of the oil and gas company’s stock worth $1,260,000 after purchasing an additional 626 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in Core Laboratories by 6.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 12,806 shares of the oil and gas company’s stock worth $311,000 after purchasing an additional 740 shares in the last quarter. 97.81% of the stock is currently owned by institutional investors.

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 12th were given a dividend of $0.01 per share. The ex-dividend date was Friday, February 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. Core Laboratories’s dividend payout ratio is currently 4.65%.

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.