Core Laboratories (NYSE:CLB) Releases Q2 Earnings Guidance

Core Laboratories (NYSE:CLB) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.19-0.23 for the period, compared to the consensus earnings per share 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 Up 0.6 %

NYSE:CLB traded up $0.10 on Thursday, hitting $16.63. 419,978 shares of the company’s stock were exchanged, compared to its average volume of 464,148. The firm has a 50-day moving average price of $16.25 and a 200-day moving average price of $17.67. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. The company has a market cap of $779.28 million, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS 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 the consensus estimate of $124.47 million. Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. As a group, analysts expect that Core Laboratories will post 0.8 EPS for the current fiscal year.

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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s dividend payout ratio (DPR) is presently 4.65%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America lowered their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an underperform rating for the company in a research note on Monday, April 15th. Stifel Nicolaus reduced their price objective on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a research note on Monday, February 5th. Finally, StockNews.com raised 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 assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $18.50.

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.