Core Laboratories (NYSE:CLB) Issues Quarterly Earnings Results

Core Laboratories (NYSE:CLB - Get Free Report) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04, Briefing.com reports. The company had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. Core Laboratories's revenue was up 7.2% compared to the same quarter last year. During the same quarter last 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 Price Performance

Shares of CLB traded up $1.85 during mid-day trading on Thursday, hitting $18.93. The company's stock had a trading volume of 684,769 shares, compared to its average volume of 434,758. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. The firm has a 50-day moving average price of $18.54 and a 200 day moving average price of $18.96. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The stock has a market capitalization of $887.82 million, a price-to-earnings ratio of 21.51, a PEG ratio of 1.08 and a beta of 2.36.

Core Laboratories Announces Dividend

The firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories's payout ratio is 4.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, July 26th. Bank of America lowered 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 note on Monday, July 15th. StockNews.com lowered shares of Core Laboratories from a "hold" rating to a "sell" rating in a research note on Tuesday, September 17th. Finally, Piper Sandler lowered their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. Two equities 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, the company has a consensus rating of "Hold" and a consensus target price 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.