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

Core Laboratories (NYSE:CLB) is set to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Core Laboratories to post earnings of $0.16 per share for the quarter. Core Laboratories has set its Q1 2024 guidance at 0.140-0.180 EPS and its Q1 guidance at $0.14-0.18 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. The firm had revenue of $128.21 million for the quarter, compared to analysts’ expectations of $127.80 million. During the same quarter last year, the company posted $0.23 EPS. 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 Up 1.1 %

Shares of CLB stock opened at $17.18 on Monday. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94. The company has a 50 day simple moving average of $16.11 and a two-hundred day simple moving average of $17.75. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $805.05 million, a P/E ratio of 19.98, a P/E/G ratio of 0.97 and a beta of 2.40.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s dividend payout ratio (DPR) is currently 4.65%.

Institutional Trading of Core Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming increased its holdings in Core Laboratories by 43.1% during the 2nd quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 436 shares during the period. Tower Research Capital LLC TRC grew its holdings in Core Laboratories by 9,913.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,487 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Core Laboratories by 185.7% during the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 1,237 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Core Laboratories by 184.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,934 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 1,904 shares in the last quarter. Finally, UBS Group AG increased its position in Core Laboratories by 171.6% during the 3rd quarter. UBS Group AG now owns 3,200 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 2,022 shares in the last quarter. 97.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CLB shares. Stifel Nicolaus dropped their price objective on Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, February 5th. Bank of America decreased their target price on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Finally, StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.

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.