Q4 2024 EPS Estimates for Core Laboratories Inc. (NYSE:CLB) Lifted by Zacks Research

Core Laboratories Inc. (NYSE:CLB) – Investment analysts at Zacks Research lifted their Q4 2024 earnings per share estimates for shares of Core Laboratories in a report issued on Tuesday, March 26th. Zacks Research analyst T. Saha now forecasts that the oil and gas company will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.24. The consensus estimate for Core Laboratories’ current full-year earnings is $0.81 per share.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus decreased their price target on Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, February 5th. 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 given a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.88.

Core Laboratories Price Performance

Shares of NYSE:CLB opened at $17.00 on Wednesday. The business’s 50 day simple moving average is $15.52 and its 200-day simple moving average is $18.62. The firm has a market capitalization of $796.62 million, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94.

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

Core Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Core Laboratories’s dividend payout ratio is currently 4.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLB. BlackRock Inc. raised its position in shares of Core Laboratories by 37.8% during the 2nd quarter. BlackRock Inc. now owns 7,927,366 shares of the oil and gas company’s stock worth $184,311,000 after purchasing an additional 2,173,250 shares during the last quarter. State Street Corp raised its position in shares of Core Laboratories by 44.4% during the 2nd quarter. State Street Corp now owns 1,848,741 shares of the oil and gas company’s stock worth $42,983,000 after purchasing an additional 568,196 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Core Laboratories by 167.6% during the 1st quarter. Ameriprise Financial Inc. now owns 902,625 shares of the oil and gas company’s stock worth $19,903,000 after purchasing an additional 565,344 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Core Laboratories by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 893,278 shares of the oil and gas company’s stock worth $20,769,000 after purchasing an additional 464,644 shares during the last quarter. Finally, Ariel Investments LLC raised its position in shares of Core Laboratories by 5.1% during the 1st quarter. Ariel Investments LLC now owns 8,198,544 shares of the oil and gas company’s stock worth $259,320,000 after purchasing an additional 394,237 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.