Core Laboratories (NYSE:CLB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Core Laboratories (NYSE:CLB) released its quarterly earnings data on Wednesday. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04, Briefing.com reports. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Core Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. 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 Up 6.0 %

Shares of NYSE CLB traded up $1.03 during midday trading on Thursday, reaching $18.11. 202,061 shares of the company’s stock were exchanged, compared to its average volume of 432,414. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The business’s fifty day moving average price is $18.54 and its two-hundred day moving average price is $18.96. The stock has a market capitalization of $849.36 million, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36.

Analyst Upgrades and Downgrades

CLB has been the subject of a number of research reports. Bank of America decreased their price target on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Piper Sandler lowered their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, 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 report on Friday, July 26th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and a consensus target price 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.