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 2.7 %

Shares of NYSE:CLB traded down $0.46 during mid-day trading on Wednesday, hitting $16.53. The company had a trading volume of 412,649 shares, compared to its average volume of 464,966. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. Core Laboratories has a one year low of $13.82 and a one year high of $27.94. The firm has a fifty day moving average price of $16.25 and a 200 day moving average price of $17.67. The company has a market capitalization of $774.60 million, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. The firm had revenue of $128.21 million during the quarter, compared to analyst estimates of $127.80 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. As a group, research analysts forecast that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s dividend payout ratio is currently 4.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on CLB. Stifel Nicolaus decreased their price target on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a report on Monday, February 5th. StockNews.com upgraded shares of Core Laboratories from a sell rating to a hold rating in a report on Saturday, January 20th. Finally, Bank of America cut their price target 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. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Core Laboratories currently has a consensus rating of Hold and an average price target of $18.50.

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.