Core Laboratories (NYSE:CLB) Updates Q4 Earnings Guidance

Core Laboratories (NYSE:CLB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.20-0.25 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $128.5-135.5 million, compared to the consensus revenue estimate of $134.60 million. Core Laboratories also updated its Q4 2024 guidance to 0.200-0.250 EPS.

Analyst Upgrades and Downgrades

CLB has been the subject of several research analyst reports. Bank of America reduced their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Stifel Nicolaus lifted their price objective on 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 reduced their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, Core Laboratories currently has an average rating of “Hold” and a consensus target price of $18.00.

Core Laboratories Stock Performance

NYSE:CLB traded down $0.18 on Wednesday, hitting $17.07. The stock had a trading volume of 590,211 shares, compared to its average volume of 433,538. The stock has a market cap of $800.58 million, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The business’s 50-day simple moving average is $18.59 and its two-hundred day simple moving average is $18.97. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $130.58 million for the quarter, compared to analysts’ expectations of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, research analysts predict that Core Laboratories will post 0.8 earnings per share for the current year.

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.