Core Laboratories (CLB) Set to Announce Earnings on Wednesday

Core Laboratories (NYSE:CLB - Get Free Report) 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 interested in registering for the company's conference call can do so using this link.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. During the same period in the previous year, the firm 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 Stock Down 3.1 %

Shares of NYSE:CLB traded down $0.53 during midday trading on Wednesday, hitting $16.71. 447,641 shares of the company's stock were exchanged, compared to its average volume of 470,090. 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 stock has a 50 day moving average price of $16.01 and a 200-day moving average price of $17.87. The company has a market cap of $783.03 million, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.54 and a beta of 2.40. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94.

Core Laboratories Announces Dividend

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

Institutional Investors Weigh In On Core Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Core Laboratories by 13.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,484 shares of the oil and gas company's stock worth $81,000 after purchasing an additional 410 shares in the last quarter. State of Wyoming grew its position in shares of 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 acquiring an additional 436 shares during the period. California State Teachers Retirement System grew its position in shares of Core Laboratories by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company's stock valued at $1,253,000 after acquiring an additional 481 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Core Laboratories by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 57,142 shares of the oil and gas company's stock valued at $1,260,000 after acquiring an additional 626 shares during the period. Finally, US Bancorp DE grew its position in shares of Core Laboratories by 15.3% during the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company's stock valued at $188,000 after acquiring an additional 790 shares during the period. 97.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CLB. Stifel Nicolaus decreased 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 report on Monday, February 5th. Bank of America reduced their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an "underperform" rating for the company in a research report on Monday. Finally, StockNews.com raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, January 20th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat.com, Core Laboratories presently has an average rating of "Hold" and a consensus target price 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.