Research Analysts Offer Predictions for Core Laboratories Inc.’s Q1 2024 Earnings (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLB) – Stock analysts at Zacks Research cut their Q1 2024 earnings estimates for shares of Core Laboratories in a research note issued to investors on Thursday, April 18th. Zacks Research analyst T. Saha now expects that the oil and gas company will post earnings per share of $0.10 for the quarter, down from their prior estimate of $0.12. The consensus estimate for Core Laboratories’ current full-year earnings is $0.81 per share. Zacks Research also issued estimates for Core Laboratories’ FY2024 earnings at $0.76 EPS and Q1 2025 earnings at $0.20 EPS.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share (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 firm had revenue of $128.21 million during the quarter, compared to analysts’ expectations of $127.80 million. During the same period in the previous year, the firm earned $0.23 EPS.

CLB has been the subject of several other research reports. Stifel Nicolaus cut their target price on shares of Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, February 5th. Bank of America cut their target price on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Monday. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Core Laboratories Stock Performance

NYSE:CLB opened at $16.99 on Friday. The firm has a market cap of $796.15 million, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 0.93 and a beta of 2.40. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94. The firm’s fifty day moving average price is $16.05 and its 200 day moving average price is $17.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72.

Institutional Trading of Core Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Core Laboratories by 37.8% in the 2nd quarter. BlackRock Inc. now owns 7,927,366 shares of the oil and gas company’s stock worth $184,311,000 after acquiring an additional 2,173,250 shares during the period. State Street Corp boosted its stake 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 valued at $42,983,000 after buying an additional 568,196 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $19,903,000 after buying an additional 565,344 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $20,769,000 after buying an additional 464,644 shares during the last quarter. Finally, Ariel Investments LLC boosted its stake 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 valued at $259,320,000 after buying an additional 394,237 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Announces Dividend

The firm also recently announced 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s dividend payout ratio (DPR) is presently 4.65%.

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.