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 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.

Charles River Laboratories International Price Performance

CRL traded up $3.51 during trading on Friday, hitting $213.80. 282,946 shares of the stock traded hands, compared to its average volume of 614,410. The business has a 50 day moving average price of $193.56 and a 200 day moving average price of $208.61. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 6.25 and a beta of 1.38. Charles River Laboratories International has a twelve month low of $166.87 and a twelve month high of $275.00. 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 announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Charles River Laboratories International’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.72 EPS. Equities research analysts forecast that Charles River Laboratories International will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes 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 board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRL shares. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price target for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. CLSA upgraded shares of Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price target on the stock in a report on Thursday. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Finally, Evercore ISI raised their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International currently has an average rating of “Hold” and an average price target of $214.93.

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).