Core Laboratories (NYSE:CLB) Updates Q2 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.190-0.230 for the period, compared to the consensus earnings per share estimate of 0.210. The company issued revenue guidance of $130.0 million-$136.0 million, compared to the consensus revenue estimate of $130.1 million. Core Laboratories also updated its Q2 guidance to $0.19-0.23 EPS.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Bank of America lowered 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. Finally, Stifel Nicolaus lowered their price objective on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $18.50.

Core Laboratories Stock Performance

CLB stock traded down $0.46 on Wednesday, reaching $16.53. The company’s stock had a trading volume of 412,649 shares, compared to its average volume of 464,966. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a market capitalization of $774.60 million, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40. The firm has a fifty day moving average of $16.20 and a two-hundred day moving average of $17.68. 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 issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $127.80 million. During the same period last year, the company earned $0.23 earnings per share. As a group, analysts predict that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Core Laboratories’s dividend payout ratio (DPR) is 4.65%.

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.