Core Laboratories (NYSE:CLB – Get Free Report) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.230-0.270 for the period, compared to the consensus earnings per share estimate of 0.250. The company issued revenue guidance of $131.0 million-$137.0 million, compared to the consensus revenue estimate of $135.1 million. Core Laboratories also updated its Q3 guidance to $0.23-0.27 EPS.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an underperform rating on the stock in a research report on Monday, July 15th. Piper Sandler reduced their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus increased their price objective on shares of Core Laboratories from $17.00 to $18.00 and gave the stock a hold rating in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Core Laboratories from a hold rating to a sell rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of Reduce and a consensus price target of $17.50.
Check Out Our Latest Stock Report on CLB
Core Laboratories Trading Down 1.2 %
Core Laboratories (NYSE:CLB – Get Free Report) last issued its 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 net margin of 8.18% and a return on equity of 15.71%. On average, research analysts anticipate that Core Laboratories will post 0.71 EPS for the current year.
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.
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