Zacks Research Comments on Core Laboratories Inc.’s Q3 2024 Earnings (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLBFree Report) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for Core Laboratories in a research note issued to investors on Monday, June 10th. Zacks Research analyst T. Saha now expects that the oil and gas company will earn $0.21 per share for the quarter, down from their previous estimate of $0.22. The consensus estimate for Core Laboratories’ current full-year earnings is $0.74 per share. Zacks Research also issued estimates for Core Laboratories’ Q4 2024 earnings at $0.23 EPS and FY2025 earnings at $0.91 EPS.

CLB has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Bank of America reduced their price target on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, Core Laboratories has an average rating of “Hold” and a consensus price target of $18.75.

Check Out Our Latest Analysis on Core Laboratories

Core Laboratories Stock Up 0.3 %

Shares of NYSE:CLB opened at $18.30 on Tuesday. The firm has a market capitalization of $858.27 million, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.14 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.85 and a current ratio of 2.68. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $27.94. The firm has a fifty day moving average of $17.42 and a 200 day moving average of $16.77.

Core Laboratories (NYSE:CLBGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $129.64 million during the quarter, compared to analysts’ expectations of $124.47 million. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, May 3rd. Core Laboratories’s dividend payout ratio (DPR) is presently 4.55%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Barclays PLC grew its holdings in Core Laboratories by 11.9% in the 3rd quarter. Barclays PLC now owns 27,637 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 2,934 shares during the last quarter. Swiss National Bank grew its stake in shares of Core Laboratories by 1.0% in the third quarter. Swiss National Bank now owns 102,500 shares of the oil and gas company’s stock worth $2,461,000 after purchasing an additional 1,000 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Core Laboratories during the 3rd quarter valued at about $2,502,000. Essex Investment Management Co. LLC bought a new position in Core Laboratories during the 3rd quarter valued at approximately $1,071,000. Finally, Deutsche Bank AG raised its position in Core Laboratories by 18.2% during the 3rd quarter. Deutsche Bank AG now owns 27,524 shares of the oil and gas company’s stock valued at $661,000 after purchasing an additional 4,247 shares during the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.

About Core Laboratories

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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.

Further Reading

Earnings History and Estimates for Core Laboratories (NYSE:CLB)

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