What is Zacks Research’s Forecast for CRL FY2024 Earnings?

Charles River Laboratories International, Inc. (NYSE:CRL) – Analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Charles River Laboratories International in a report released on Tuesday, October 29th. Zacks Research analyst R. Department now forecasts that the medical research company will earn $10.00 per share for the year, down from their prior forecast of $10.05. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.01 per share. Zacks Research also issued estimates for Charles River Laboratories International’s Q4 2024 earnings at $2.50 EPS, Q1 2025 earnings at $2.44 EPS, Q2 2025 earnings at $2.56 EPS, Q3 2025 earnings at $2.62 EPS, Q4 2025 earnings at $2.68 EPS, FY2025 earnings at $10.30 EPS, Q1 2026 earnings at $2.79 EPS, Q2 2026 earnings at $2.88 EPS, Q3 2026 earnings at $2.91 EPS and FY2026 earnings at $11.78 EPS.

CRL has been the subject of a number of other reports. The Goldman Sachs Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price target on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price objective on the stock. CLSA started coverage on Charles River Laboratories International in a report on Wednesday, October 23rd. They set an “underperform” rating and a $167.00 target price for the company. Finally, Citigroup cut shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and an average price target of $209.00.

Charles River Laboratories International Price Performance

CRL opened at $181.39 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The company has a market cap of $9.37 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.11 and a beta of 1.36. The company has a 50 day moving average of $194.66 and a two-hundred day moving average of $210.05. Charles River Laboratories International has a 52-week low of $161.65 and a 52-week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion.

Institutional Trading of Charles River Laboratories International

Institutional investors have recently bought and sold shares of the business. Tortoise Investment Management LLC boosted its stake in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 57 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Charles River Laboratories International in the 1st quarter valued at $41,000. Wolff Wiese Magana LLC acquired a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after purchasing an additional 193 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Charles River Laboratories International in the 3rd quarter valued at approximately $79,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International announced that its board has approved a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).