Zacks Research Analysts Cut Earnings Estimates for Charles River Laboratories International, Inc. (NYSE:CRL)

Charles River Laboratories International, Inc. (NYSE:CRL) – Equities researchers at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Charles River Laboratories International in a research note issued to investors on Wednesday, August 28th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $2.44 per share for the quarter, down from their previous estimate of $3.00. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.02 per share. Zacks Research also issued estimates for Charles River Laboratories International’s Q4 2024 earnings at $2.55 EPS, FY2024 earnings at $10.06 EPS, Q3 2025 earnings at $2.82 EPS, Q4 2025 earnings at $3.02 EPS, FY2025 earnings at $10.95 EPS, Q2 2026 earnings at $2.98 EPS and FY2026 earnings at $12.24 EPS.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results 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 return on equity of 14.96% and a net margin of 10.83%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion.

Several other analysts have also recently weighed in on the company. Mizuho started coverage on Charles River Laboratories International in a report on Friday, June 7th. They set a “neutral” rating and a $235.00 price target on the stock. StockNews.com raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group cut their price target on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Argus restated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Finally, The Goldman Sachs Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $231.00.

Charles River Laboratories International Trading Down 2.9 %

NYSE CRL opened at $192.05 on Monday. Charles River Laboratories International has a twelve month low of $161.65 and a twelve month high of $275.00. The business’s fifty day moving average is $211.24 and its 200 day moving average is $228.56. 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 company has a market cap of $9.92 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 3.97 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. APG Asset Management US Inc. bought a new position in shares of Charles River Laboratories International in the fourth quarter worth $2,321,000. Norges Bank bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at about $101,319,000. Boston Trust Walden Corp lifted its holdings in shares of Charles River Laboratories International by 2.8% in the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after buying an additional 5,375 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Charles River Laboratories International by 30.8% in the fourth quarter. Principal Financial Group Inc. now owns 152,537 shares of the medical research company’s stock valued at $36,060,000 after acquiring an additional 35,921 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in Charles River Laboratories International by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock valued at $15,401,000 after acquiring an additional 2,739 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

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

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).