Core Laboratories (NYSE:CLB) Issues Q4 Earnings Guidance

Core Laboratories (NYSE:CLB - Get Free Report) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.20-0.25 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $128.5-135.5 million, compared to the consensus revenue estimate of $134.60 million. Core Laboratories also updated its Q4 2024 guidance to 0.200-0.250 EPS.

Core Laboratories Price Performance

NYSE CLB traded down $0.18 during trading on Wednesday, reaching $17.07. 590,211 shares of the company traded hands, compared to its average volume of 433,538. The company has a market cap of $800.58 million, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.08 and a beta of 2.36. The stock's 50 day moving average price is $18.59 and its two-hundred day moving average price is $18.97. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. 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 (NYSE:CLB - Get Free Report) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The company had revenue of $130.58 million during the quarter, compared to analysts' expectations of $132.85 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Core Laboratories will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CLB shares. Bank of America reduced their price target 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. Stifel Nicolaus upped 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. Piper Sandler lowered their price target on shares of Core Laboratories from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Finally, StockNews.com downgraded Core Laboratories from a "hold" rating to a "sell" rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to data from MarketBeat.com, Core Laboratories currently has an average 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.

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