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

Charles River Laboratories International (NYSE:CRL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 10.100-10.300 for the period, compared to the consensus earnings per share 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 stock traded up $3.56 on Friday, reaching $213.85. The company had a trading volume of 340,199 shares, compared to its average volume of 614,674. The company’s fifty day moving average is $193.56 and its 200 day moving average is $208.61. The company has a market cap of $11.04 billion, a P/E ratio of 25.18, a PEG ratio of 6.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International has a 1 year low of $166.87 and a 1 year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same quarter last year, the company earned $2.72 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts forecast that Charles River Laboratories International will post 10.01 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

CRL has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $270.00 to $205.00 in a report on Thursday, August 8th. 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. The Goldman Sachs Group decreased their target price on shares of 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. Finally, UBS Group upped their price target on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Two 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, the company currently has a consensus rating of “Hold” and a consensus price target of $214.93.

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).