Core Laboratories (NYSE:CLB) Updates 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CLB. StockNews.com raised Core Laboratories from a sell rating to a hold rating in a report on Saturday, January 20th. Stifel Nicolaus lowered their target price on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a research report on Monday, February 5th. Finally, Bank of America reduced their price target 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. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $18.50.

Core Laboratories Stock Up 0.6 %

Core Laboratories stock traded up $0.10 during midday trading on Thursday, hitting $16.63. 419,978 shares of the stock were exchanged, compared to its average volume of 464,148. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $779.28 million, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $27.94. The business’s 50-day moving average price is $16.25 and its 200-day moving average price is $17.67.

Core Laboratories (NYSE:CLB) last released 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 company had revenue of $129.64 million for the quarter, compared to analysts’ expectations of $124.47 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. On average, research analysts expect that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 12th were paid 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 0.24%. Core Laboratories’s dividend payout ratio is 4.65%.

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.