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

Charles River Laboratories International (NYSE:CRL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 10.100-10.300 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRL shares. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group cut their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. TD Cowen reduced their price objective on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, CLSA raised shares of Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 target price for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Charles River Laboratories International has an average rating of “Hold” and a consensus target price of $214.93.

Charles River Laboratories International Stock Performance

CRL stock traded up $3.56 during mid-day trading on Friday, reaching $213.85. The company had a trading volume of 340,199 shares, compared to its average volume of 614,674. Charles River Laboratories International has a one year low of $166.87 and a one year high of $275.00. The stock has a market capitalization of $11.04 billion, a P/E ratio of 25.18, a P/E/G ratio of 6.25 and a beta of 1.38. 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 stock’s 50-day simple moving average is $193.56 and its two-hundred day simple moving average is $208.61.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data 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. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. During the same period last year, the firm posted $2.72 EPS. Charles River Laboratories International’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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).