Core Laboratories (CLB) Scheduled to Post Quarterly Earnings on Wednesday

Core Laboratories (NYSE:CLB) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.17 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.Investors that wish to listen to the company’s conference call can do so using this link.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results 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 return on equity of 15.19% and a net margin of 8.03%. The business had revenue of $128.21 million during the quarter, compared to analysts’ expectations of $127.80 million. During the same period in the prior year, the firm posted $0.23 earnings per share. 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 0.7 %

NYSE CLB opened at $17.25 on Wednesday. The stock’s 50 day moving average is $15.97 and its 200 day moving average is $17.88. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94. The stock has a market cap of $808.34 million, a PE ratio of 20.06, a P/E/G ratio of 0.55 and a beta of 2.40.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 12th were issued a $0.01 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. Core Laboratories’s dividend payout ratio is presently 4.65%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Stifel Nicolaus decreased their price objective on Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, February 5th. Finally, Bank of America decreased their price objective on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.50.

Institutional Trading of Core Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of CLB. State of Wyoming raised 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 valued at $34,000 after buying an additional 436 shares during the period. Tower Research Capital LLC TRC grew its position in Core Laboratories by 9,913.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,487 shares during the last quarter. UBS Group AG grew its position in Core Laboratories by 171.6% in the 3rd quarter. UBS Group AG now owns 3,200 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 2,022 shares during the last quarter. PNC Financial Services Group Inc. grew its position in 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 valued at $59,000 after acquiring an additional 1,904 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Core Laboratories by 185.7% in the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,237 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

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.