Core Laboratories (NYSE:CLB) Posts Earnings Results, Beats Expectations By $0.04 EPS

Core Laboratories (NYSE:CLB) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04, Briefing.com reports. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period last year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. 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 Stock Up 2.5 %

CLB traded up $0.48 during trading on Friday, reaching $19.42. The company had a trading volume of 11,011 shares, compared to its average volume of 432,710. The company has a market cap of $910.80 million, a P/E ratio of 21.51, a PEG ratio of 1.08 and a beta of 2.36. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $25.13. 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 business’s fifty day moving average price is $18.53 and its 200 day moving average price is $18.96.

Core Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Core Laboratories’s payout ratio is 4.55%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America cut their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th. StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Piper Sandler decreased their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock has an average 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.