Charles River Laboratories International (NYSE:CRL) Releases FY 2024 Earnings Guidance

Charles River Laboratories International (NYSE:CRL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 10.100-10.300 for the period, compared to the consensus estimate of 10.000. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRL shares. Evercore ISI lifted their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research note on Thursday. Robert W. Baird reduced their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. CLSA upgraded Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 target price on the stock in a research note on Thursday. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their price target for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $214.93.

Charles River Laboratories International Price Performance

CRL traded up $3.56 during midday trading on Friday, reaching $213.85. 324,933 shares of the company’s stock were exchanged, compared to its average volume of 614,603. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The business’s 50-day moving average price is $193.56 and its 200 day moving average price is $208.61. Charles River Laboratories International has a 1-year low of $166.87 and a 1-year high of $275.00. The stock has a market capitalization of $11.04 billion, a PE ratio of 25.18, a P/E/G ratio of 6.25 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.16. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.72 EPS. As a group, equities analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

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

Charles River Laboratories International Company Profile

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).