Core Laboratories (NYSE:CLB) Issues Q4 2024 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.200-0.250 for the period, compared to the consensus EPS estimate of 0.260. The company issued revenue guidance of $128.5 million-$135.5 million, compared to the consensus revenue estimate of $136.9 million. Core Laboratories also updated its Q4 guidance to $0.20-0.25 EPS.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CLB. Bank of America reduced their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. StockNews.com downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Piper Sandler cut 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. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.00.

Core Laboratories Stock Performance

NYSE CLB traded down $0.18 during trading on Wednesday, hitting $17.07. 590,211 shares of the company’s stock traded hands, compared to its average volume of 433,538. The stock has a market capitalization of $800.58 million, a price-to-earnings ratio of 19.40, 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 quick ratio of 1.68 and a current ratio of 2.39. The business has a 50 day moving average of $18.59 and a 200-day moving average of $18.97.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data 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 business had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

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.