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 morning. The company provided earnings per share (EPS) guidance of 10.100-10.300 for the period, compared to the consensus 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 Stock Up 1.7 %

Charles River Laboratories International stock traded up $3.51 during trading on Friday, hitting $213.80. 282,946 shares of the company were exchanged, compared to its average volume of 614,410. Charles River Laboratories International has a 52 week low of $166.87 and a 52 week high of $275.00. The company has a market capitalization of $11.04 billion, a P/E ratio of 25.18, a PEG ratio of 6.25 and a beta of 1.38. The business’s 50 day moving average is $193.56 and its 200 day moving average is $208.61. 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 (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.72 EPS. Analysts predict that Charles River Laboratories International will post 10.01 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRL shares. Citigroup lowered Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their price target for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. Bank of America cut Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI boosted their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday. Finally, StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and an average target price 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).