Core Laboratories (NYSE:CLB) Releases 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CLB. Bank of America decreased 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 note on Monday, April 15th. Stifel Nicolaus cut their price objective on shares of Core Laboratories from $21.00 to $17.00 and set a hold rating on the stock in a report on Monday, February 5th. Finally, StockNews.com upgraded 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 issued a hold rating to the company’s stock. According to data from MarketBeat.com, Core Laboratories presently has a consensus rating of Hold and an average price target of $18.50.

Core Laboratories Stock Performance

CLB traded down $0.46 during trading hours on Wednesday, hitting $16.53. The company’s stock had a trading volume of 412,649 shares, compared to its average volume of 464,966. The company has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $17.67. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $774.60 million, a PE ratio of 19.22, a PEG ratio of 0.96 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.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share 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 firm had revenue of $128.21 million during the quarter, compared to analyst estimates of $127.80 million. During the same quarter last year, the company earned $0.23 earnings per share. As a group, sell-side analysts expect that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

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