Core Laboratories (NYSE:CLB – Get Free Report) posted its earnings results on Wednesday. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02, reports. 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 15.71% and a net margin of 8.18%. Core Laboratories updated its Q2 guidance to $0.19-0.23 EPS and its Q2 2024 guidance to 0.190-0.230 EPS.
Core Laboratories Stock Performance
Shares of CLB stock traded down $0.13 during trading hours on Friday, reaching $16.94. 522,902 shares of the company traded hands, compared to its average volume of 375,300. The firm has a 50-day moving average price of $16.34 and a 200 day moving average price of $17.62. The company has a market cap of $793.81 million, a P/E ratio of 19.25, a P/E/G ratio of 0.97 and a beta of 2.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.72. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $27.94.
Core Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 6th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, May 3rd. Core Laboratories’s payout ratio is currently 4.55%.
Institutional Trading of Core Laboratories
Analyst Upgrades and Downgrades
A number of research firms have commented on CLB. Stifel Nicolaus lifted their target price on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Finally, 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 report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.75.
Read Our Latest Analysis on CLB
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.
Featured Articles
- Five stocks we like better than Core Laboratories
- Pros And Cons Of Monthly Dividend Stocks
- MarketBeat Week in Review – 4/22 – 4/26
- What is Short Interest? How to Use It
- 3 Stocks Leading the U.S. Agriculture Comeback
- How to Calculate Stock Profit
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Core Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.