Core Laboratories (CLB) Set to Announce Quarterly Earnings on Wednesday

Core Laboratories (NYSE:CLB) will be releasing its earnings data after the market closes on Wednesday, October 23rd. Analysts expect Core Laboratories to post earnings of $0.21 per share for the quarter. Core Laboratories has set its Q3 2024 guidance at 0.230-0.270 EPS and its Q3 guidance at $0.23-0.27 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, analysts expect Core Laboratories to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Core Laboratories Trading Up 1.4 %

Shares of Core Laboratories stock opened at $18.65 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The firm has a market cap of $874.69 million, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36. The business has a fifty day simple moving average of $18.66 and a 200-day simple moving average of $18.95. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America cut their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th. Piper Sandler cut their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Stifel Nicolaus upped their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, Core Laboratories currently has a consensus rating of “Hold” and a consensus price target of $18.00.

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.