Core Laboratories (NYSE:CLB) Releases Earnings Results

Core Laboratories (NYSE:CLB) issued its earnings results on Wednesday. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04, Briefing.com reports. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Core Laboratories updated its Q4 2024 guidance to 0.200-0.250 EPS and its Q4 guidance to $0.20-0.25 EPS.

Core Laboratories Stock Performance

Shares of NYSE:CLB traded up $0.50 during trading on Friday, hitting $19.44. 285,303 shares of the company traded hands, compared to its average volume of 434,035. The stock has a market capitalization of $911.74 million, a price-to-earnings ratio of 21.51, a PEG ratio of 1.08 and a beta of 2.36. Core Laboratories has a one year low of $13.82 and a one year high of $25.13. 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 business’s fifty day moving average is $18.53 and its 200-day moving average is $18.96.

Core Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 4.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CLB shares. StockNews.com downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Stifel Nicolaus raised their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Bank of America cut their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Finally, Piper Sandler dropped their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.00.

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.