Core Laboratories (NYSE:CLB) Updates 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 (EPS) guidance of $0.19-0.23 for the period, compared to the consensus 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 Price Performance

CLB traded down $0.46 during trading on Wednesday, reaching $16.53. The stock had a trading volume of 412,649 shares, compared to its average volume of 464,965. The firm has a market capitalization of $774.60 million, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94. The stock has a 50 day moving average of $16.20 and a two-hundred day moving average of $17.68.

Core Laboratories (NYSE:CLB) last announced 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 net margin of 8.03% and a return on equity of 15.19%. The firm had revenue of $128.21 million for the quarter, compared to analyst estimates of $127.80 million. During the same period last year, the firm earned $0.23 earnings per share. As a group, equities analysts anticipate that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently announced 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 dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s payout ratio is presently 4.65%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CLB shares. Bank of America dropped their price target on shares of Core Laboratories from $17.00 to $16.00 and set an underperform rating for the company in a research report on Monday, April 15th. StockNews.com raised shares of Core Laboratories from a sell rating to a hold rating in a report on Saturday, January 20th. Finally, Stifel Nicolaus lowered their price target on shares of Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a report on Monday, February 5th. Two 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 target price 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.