Core Laboratories (CLB) Set to Announce Earnings on Wednesday

Core Laboratories (NYSE:CLB) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce 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.Investors that are interested in registering for the company’s conference call can do so using this link.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The firm had revenue of $130.58 million for the quarter, compared to analysts’ expectations of $132.85 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. 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 Stock Down 0.1 %

Shares of NYSE CLB opened at $18.63 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $18.66 and a 200-day moving average of $18.96. The firm has a market capitalization of $873.75 million, a price-to-earnings ratio of 21.17, 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.

Core Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

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