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

Core Laboratories (NYSE:CLB) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.190-0.230 for the period, compared to the consensus 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.

Core Laboratories Price Performance

Shares of CLB stock traded up $0.61 during trading hours on Thursday, hitting $17.14. The company had a trading volume of 524,584 shares, compared to its average volume of 465,217. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94. The firm has a market capitalization of $803.18 million, a price-to-earnings ratio of 19.66, a PEG ratio of 0.96 and a beta of 2.40. The firm’s fifty day moving average is $16.25 and its 200 day moving average is $17.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.72 and a current ratio of 2.53.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $129.64 million for the quarter, compared to analyst estimates of $124.47 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. On average, sell-side analysts predict that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently disclosed 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 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 4.65%.

Wall Street Analyst Weigh In

CLB has been the topic of a number of recent research reports. Bank of America decreased their price objective on Core Laboratories from $17.00 to $16.00 and set an underperform rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus cut their price target on Core Laboratories from $21.00 to $17.00 and set a hold rating on the stock in a research note on Monday, February 5th. Finally, StockNews.com raised Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target 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.