Zacks Research Has Bearish Estimate for CRL FY2024 Earnings

Charles River Laboratories International, Inc. (NYSE:CRL) – Equities research analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Charles River Laboratories International in a note issued to investors on Tuesday, October 29th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings per share of $10.00 for the year, down from their previous forecast of $10.05. 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 Q4 2024 earnings at $2.50 EPS, Q1 2025 earnings at $2.44 EPS, Q2 2025 earnings at $2.56 EPS, Q3 2025 earnings at $2.62 EPS, Q4 2025 earnings at $2.68 EPS, FY2025 earnings at $10.30 EPS, Q1 2026 earnings at $2.79 EPS, Q2 2026 earnings at $2.88 EPS, Q3 2026 earnings at $2.91 EPS and FY2026 earnings at $11.78 EPS.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion.

Several other analysts also recently commented on the company. Citigroup downgraded Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. 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. Evercore ISI lowered Charles River Laboratories International from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $225.00 to $190.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Finally, Barclays decreased their price target 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.00.

Charles River Laboratories International Trading Down 1.4 %

CRL opened at $181.39 on Thursday. The company has a fifty day moving average price of $194.66 and a two-hundred day moving average price of $210.05. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The company has a market cap of $9.37 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International declared that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC boosted its stake in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after buying an additional 57 shares during the last quarter. Headlands Technologies LLC purchased a new position in Charles River Laboratories International in the first quarter worth $41,000. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International in the third quarter worth $32,000. Whittier Trust Co. of Nevada Inc. grew its stake in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at $79,000. 98.91% of the stock is owned by institutional investors.

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).