Core Laboratories (NYSE:CLB) Posts Earnings Results, Meets Estimates

Core Laboratories (NYSE:CLB) announced its earnings results on Wednesday. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16, FiscalAI reports. The firm had revenue of $132.08 million for the quarter, compared to analyst estimates of $131.87 million. Core Laboratories had a net margin of 3.42% and a return on equity of 9.01%. Core Laboratories’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share.

Core Laboratories Stock Up 0.2%

Core Laboratories stock opened at $10.43 on Friday. The company has a market capitalization of $478.30 million, a P/E ratio of 27.43, a P/E/G ratio of 2.09 and a beta of 1.14. Core Laboratories has a 1-year low of $9.13 and a 1-year high of $20.36. The firm’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $13.96. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 0.41.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 9th will be paid a $0.01 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Core Laboratories’s payout ratio is 7.14%.

Analysts Set New Price Targets

Several research analysts have recently commented on CLB shares. Johnson Rice raised shares of Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 13th. Weiss Ratings raised shares of Core Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Core Laboratories Company Profile

Core Laboratories N.V. (NYSE: CLB) is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.