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 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 also updated its Q2 2024 guidance to 0.190-0.230 EPS.

Core Laboratories Trading Down 0.8 %

Shares of NYSE:CLB traded down $0.13 during trading on Friday, reaching $16.94. The stock had a trading volume of 522,902 shares, compared to its average volume of 375,300. The firm’s fifty day moving average is $16.34 and its 200 day moving average is $17.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.72 and a current ratio of 2.68. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The stock has a market cap of $793.81 million, a price-to-earnings ratio of 19.25, a P/E/G ratio of 0.97 and a beta of 2.40.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%. The company had revenue of $129.64 million for the quarter, compared to the consensus estimate of $124.47 million. As a group, equities analysts forecast that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 6th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Core Laboratories’s payout ratio is presently 4.55%.

Wall Street Analyst Weigh In

CLB has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Core Laboratories from $17.00 to $18.00 and gave the company a hold rating in a research report on Friday. Bank of America lowered their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an underperform rating on the stock in a report on Monday, April 15th. Finally, StockNews.com upgraded shares of Core Laboratories from a sell rating to a hold rating in a report on Saturday, January 20th. 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.com, the stock has an average rating of Hold and a consensus price target of $18.75.

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.