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

Core Laboratories (NYSE:CLB) is scheduled to be announcing 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 earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. The company had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. During the same quarter last year, the business earned $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 Price Performance

NYSE CLB opened at $17.25 on Wednesday. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $27.94. The stock’s 50-day moving average is $15.97 and its two-hundred day moving average is $17.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. The firm has a market cap of $808.34 million, a P/E ratio of 20.06, a price-to-earnings-growth 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. Stockholders of record on Monday, February 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, February 9th. Core Laboratories’s dividend payout ratio is currently 4.65%.

Hedge Funds Weigh In On Core Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLB. State of Wyoming boosted its stake in Core Laboratories by 43.1% in 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 lifted its position in Core Laboratories by 9,913.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,487 shares in the last quarter. UBS Group AG lifted 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 worth $43,000 after buying an additional 2,022 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Core Laboratories by 184.9% during 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 buying an additional 1,904 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Core Laboratories by 185.7% during the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock worth $60,000 after buying an additional 1,237 shares in the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLB. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. 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. Finally, Stifel Nicolaus decreased their target price on Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Core Laboratories has an average rating of “Hold” and a consensus price target of $18.50.

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.