Core Laboratories (NYSE:CLB) Releases Earnings Results, Beats Expectations By $0.01 EPS

Core Laboratories (NYSE:CLB) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01, Briefing.com reports. The firm had revenue of $130.58 million for the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.42%. Core Laboratories’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. Core Laboratories updated its Q3 2024 guidance to 0.230-0.270 EPS and its Q3 guidance to $0.23-0.27 EPS.

Core Laboratories Stock Down 1.1 %

CLB traded down $0.26 on Friday, reaching $24.09. The company’s stock had a trading volume of 153,067 shares, compared to its average volume of 453,348. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 1.39 and a beta of 2.41. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $27.94. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $19.76 and a two-hundred day moving average of $17.39.

Core Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLB. Piper Sandler lowered their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Bank of America lowered their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday. Finally, StockNews.com lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, Core Laboratories presently has a consensus rating of “Reduce” and a consensus target price of $18.50.

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.