Q2 2024 EPS Estimates for Core Laboratories Inc. Reduced by Zacks Research (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLBFree Report) – Equities research analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of Core Laboratories in a report issued on Monday, June 10th. Zacks Research analyst T. Saha now anticipates that the oil and gas company will earn $0.18 per share for the quarter, down from their previous estimate of $0.19. The consensus estimate for Core Laboratories’ current full-year earnings is $0.74 per share. Zacks Research also issued estimates for Core Laboratories’ FY2024 earnings at $0.73 EPS, Q1 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.23 EPS and Q1 2026 earnings at $0.24 EPS.

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

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Bank of America decreased 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 note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.75.

Read Our Latest Stock Analysis on Core Laboratories

Core Laboratories Trading Down 1.8 %

Shares of Core Laboratories stock opened at $18.21 on Wednesday. The company has a market capitalization of $854.05 million, a P/E ratio of 20.69, a P/E/G 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. The company has a fifty day moving average of $17.49 and a 200 day moving average of $16.80. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $27.94.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Friday, May 3rd. Core Laboratories’s payout ratio is currently 4.55%.

Institutional Trading of Core Laboratories

Several hedge funds have recently made changes to their positions in CLB. Barclays PLC raised its position in shares of Core Laboratories by 11.9% during the 3rd quarter. Barclays PLC now owns 27,637 shares of the oil and gas company’s stock valued at $664,000 after buying an additional 2,934 shares in the last quarter. Swiss National Bank raised its position in shares of Core Laboratories by 1.0% during the 3rd quarter. Swiss National Bank now owns 102,500 shares of the oil and gas company’s stock valued at $2,461,000 after buying an additional 1,000 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Core Laboratories during the 3rd quarter valued at about $2,502,000. Deutsche Bank AG raised its position in shares of 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 buying an additional 4,247 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Core Laboratories by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 143,141 shares of the oil and gas company’s stock valued at $3,437,000 after buying an additional 3,703 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Company Profile

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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.

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

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