Core Laboratories (NYSE:CLB) Issues Q2 Earnings Guidance

Core Laboratories (NYSE:CLB) issued an update on its second quarter earnings guidance on Wednesday morning. 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

CLB traded down $0.16 on Friday, reaching $16.91. 280,136 shares of the stock were exchanged, compared to its average volume of 465,414. The company’s 50-day moving average price is $16.29 and its 200 day moving average price is $17.66. The firm has a market capitalization of $792.40 million, a PE ratio of 19.55, a PEG ratio of 0.94 and a beta of 2.40. 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 current ratio of 2.53 and a quick ratio of 1.72.

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, beating analysts’ consensus estimates 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, sell-side analysts forecast that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 6th will be paid a $0.01 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Core Laboratories’s dividend payout ratio is presently 4.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America cut their price objective on 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 boosted their target price on Core Laboratories from $17.00 to $18.00 and gave the company a hold rating in a research report on Friday. Finally, StockNews.com raised Core Laboratories from a sell rating to a hold rating in a research report on Saturday, January 20th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price 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.