Zacks Research Has Bearish Estimate for CRL Q3 Earnings

Charles River Laboratories International, Inc. (NYSE:CRL) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for Charles River Laboratories International in a research report issued to clients and investors on Thursday, October 17th. Zacks Research analyst R. Department now anticipates that the medical research company will earn $2.43 per share for the quarter, down from their prior forecast of $2.44. 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 Q3 2026 earnings at $3.03 EPS.

A number of other research analysts have also recently weighed in on CRL. Robert W. Baird dropped their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Baird R W downgraded shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI downgraded shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their target price for the company from $225.00 to $190.00 in a research report on Monday, October 7th. StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $212.23.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $197.69 on Friday. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The firm has a 50 day simple moving average of $197.26 and a 200-day simple moving average of $214.56. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion.

Institutional Investors Weigh In On Charles River Laboratories International

Large investors have recently bought and sold shares of the stock. Tortoise Investment Management LLC raised its holdings in shares of Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Charles River Laboratories International during the 3rd quarter worth $32,000. Headlands Technologies LLC acquired a new stake in shares of Charles River Laboratories International during the first quarter worth $41,000. Whittier Trust Co. of Nevada Inc. boosted 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, Concord Wealth Partners grew its position in shares of Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International declared that its board has authorized a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually 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).