Core Laboratories (CLB) Set to Announce Quarterly Earnings on Wednesday

Core Laboratories (NYSE:CLB - Get Free Report) will be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect Core Laboratories to post earnings of $0.21 per share for the quarter. Core Laboratories has set its Q3 2024 guidance at 0.230-0.270 EPS and its Q3 guidance at $0.23-0.27 EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

Core Laboratories (NYSE:CLB - Get Free Report) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $130.58 million during 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 business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. On average, analysts expect Core Laboratories to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Core Laboratories Trading Up 3.7 %

CLB stock traded up $0.67 during trading on Wednesday, hitting $18.79. The company had a trading volume of 298,237 shares, compared to its average volume of 434,755. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The company has a 50 day simple moving average of $18.73 and a 200-day simple moving average of $18.93. The firm has a market capitalization of $881.25 million, a P/E ratio of 21.35, a PEG ratio of 1.08 and a beta of 2.36. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Monday, August 5th. Core Laboratories's dividend payout ratio (DPR) is presently 4.55%.

Analysts Set New Price Targets

CLB has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of 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 price objective on Core Laboratories from $16.00 to $15.00 and set an "underperform" rating on the stock in a research report on Monday, July 15th. 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 research note on Monday, July 15th. Finally, StockNews.com cut shares of Core Laboratories from a "hold" rating to a "sell" rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.