Core Laboratories (NYSE:CLB) Updates Q4 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.200-0.250 for the period, compared to the consensus estimate of 0.260. The company issued revenue guidance of $128.5 million-$135.5 million, compared to the consensus revenue estimate of $136.9 million.

Core Laboratories Stock Down 1.0 %

Core Laboratories stock traded down $0.18 during mid-day trading on Wednesday, hitting $17.07. 590,211 shares of the company’s stock were exchanged, compared to its average volume of 433,538. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. The stock has a 50 day moving average of $18.59 and a two-hundred day moving average of $18.97. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market cap of $800.58 million, a P/E ratio of 19.60, a P/E/G ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $130.58 million for the quarter, compared to the consensus estimate 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 for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. As a group, analysts anticipate that Core Laboratories will post 0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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