Zacks Research Weighs in on Core Laboratories Inc.’s Q4 2024 Earnings (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLB) – Research analysts at Zacks Research boosted their Q4 2024 EPS estimates for Core Laboratories in a note issued to investors on Tuesday, March 26th. Zacks Research analyst T. Saha now forecasts that the oil and gas company will post earnings per share of $0.25 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 issued its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. The business had revenue of $128.21 million for the quarter, compared to analysts’ expectations of $127.80 million. During the same period last year, the business earned $0.23 EPS.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Stifel Nicolaus dropped their target price on shares of Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Core Laboratories currently has an average rating of “Hold” and an average target price of $19.88.

Core Laboratories Stock Up 0.5 %

CLB opened at $17.08 on Wednesday. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $27.94. 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 has a fifty day moving average of $15.54 and a two-hundred day moving average of $18.61. The stock has a market capitalization of $800.37 million, a price-to-earnings ratio of 19.86, a PEG ratio of 0.52 and a beta of 2.39.

Core Laboratories Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.23%. Core Laboratories’s payout ratio is presently 4.65%.

Hedge Funds Weigh In On Core Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in Core Laboratories by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 328,435 shares of the oil and gas company’s stock worth $7,886,000 after acquiring an additional 93,354 shares during the last quarter. Morningstar Investment Services LLC boosted its position in Core Laboratories by 6.1% during the second quarter. Morningstar Investment Services LLC now owns 12,806 shares of the oil and gas company’s stock worth $311,000 after acquiring an additional 740 shares during the last quarter. Invesco Ltd. raised its stake in Core Laboratories by 25.3% during the third quarter. Invesco Ltd. now owns 436,459 shares of the oil and gas company’s stock worth $10,479,000 after purchasing an additional 88,013 shares during the period. Deutsche Bank AG raised its stake in Core Laboratories by 18.2% during the third quarter. Deutsche Bank AG now owns 27,524 shares of the oil and gas company’s stock worth $661,000 after purchasing an additional 4,247 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in Core Laboratories during the second quarter worth about $576,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.