Zacks Research Cuts Earnings Estimates for Core Laboratories

Core Laboratories Inc. (NYSE:CLB - Free Report) - Investment analysts at Zacks Research dropped their Q4 2024 earnings per share (EPS) estimates for shares of Core Laboratories in a research report issued to clients and investors on Wednesday, December 4th. Zacks Research analyst T. Saha now expects that the oil and gas company will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.21. The consensus estimate for Core Laboratories' current full-year earnings is $0.80 per share. Zacks Research also issued estimates for Core Laboratories' Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.23 EPS and Q2 2026 earnings at $0.28 EPS.

A number of other research firms have also commented on CLB. Citigroup cut their price objective on shares of Core Laboratories from $15.00 to $14.00 and set a "sell" rating for the company in a research report on Thursday, October 31st. StockNews.com raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.00.

Core Laboratories Stock Down 2.4 %

Shares of NYSE CLB traded down $0.48 during mid-day trading on Friday, reaching $19.38. 241,972 shares of the company's stock traded hands, compared to its average volume of 414,305. The stock has a market cap of $909.89 million, a P/E ratio of 29.60, a PEG ratio of 1.39 and a beta of 2.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. The business has a 50-day simple moving average of $19.63 and a 200 day simple moving average of $19.62.

Core Laboratories (NYSE:CLB - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. 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. The firm had revenue of $134.40 million during the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The company's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS.

Institutional Investors Weigh In On Core Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Core Laboratories by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,450 shares of the oil and gas company's stock valued at $469,000 after purchasing an additional 2,070 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Core Laboratories by 23.9% in the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company's stock valued at $90,000 after buying an additional 855 shares in the last quarter. SG Americas Securities LLC increased its stake in Core Laboratories by 136.8% in the second quarter. SG Americas Securities LLC now owns 24,508 shares of the oil and gas company's stock valued at $497,000 after purchasing an additional 14,158 shares during the last quarter. Fermata Advisors LLC acquired a new position in shares of Core Laboratories during the second quarter worth about $235,000. Finally, Spectrum Asset Management Inc. NB CA bought a new position in shares of Core Laboratories during the second quarter worth about $791,000. 97.81% of the stock is owned by institutional investors.

Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 4th were given a $0.01 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.04 annualized dividend and a yield of 0.21%. Core Laboratories's dividend payout ratio is currently 6.15%.

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.