Alert: Negative Investment/Fundamental Signals (9/6/24)-Core Laboratories NV (NYSE: CLB)

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Extremely important negative changes in investment behavior have recently occurred for Core Laboratories NV (NYSE: CLB): the stock’s recent price decline challenged its longer term uptrend, its shorter term price trend turned down, and negative upside/downside volume developed.

Core Laboratories NV (NYSE: CLB). Notable negative changes in fundamentals have recently occurred. Negative developments: the consensus estimate for December, 2024 decreased significantly, significant quarterly earnings deceleration occurred, and the consensus estimate for December, 2025 decreased significantly. Positive development: the stock’s power rating rose above 70.

In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.

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Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, CLB is expected to continue to be a major Value Builder.

Core Laboratories has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Core Laboratories has a poor Appreciation Score of 16 but a good Power Rating of 82, resulting in the Neutral Value Trend Rating.

Recent Price Action

On 9/6/24, Core Laboratories NV (NYSE: CLB) stock declined modestly by -1.9%, closing at $17.69. However, trading volume in this decline was unusually low at 60% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -6.7% during the last week.

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