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 guidance of $0.19-0.23 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE CLB traded down $0.16 during trading hours on Friday, reaching $16.91. 280,136 shares of the stock traded hands, compared to its average volume of 465,414. The company has a market capitalization of $792.40 million, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 0.94 and a beta of 2.40. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $27.94. The company’s 50-day simple moving average is $16.29 and its two-hundred day simple moving average is $17.66.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating 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 15.90% and a net margin of 8.18%. Equities research analysts forecast that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Core Laboratories’s dividend payout ratio (DPR) is currently 4.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an underperform rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus lifted their price target on Core Laboratories from $17.00 to $18.00 and gave the stock a hold rating in a research note on Friday. Finally, StockNews.com raised Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price 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.