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

Charles River Laboratories International (NYSE:CRL) issued an update on 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 Price Performance

Shares of Charles River Laboratories International stock opened at $215.39 on Friday. 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 quick ratio of 1.21 and a current ratio of 1.58. The firm has a market cap of $11.12 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 6.25 and a beta of 1.38. The firm’s 50-day simple moving average is $193.91 and its 200-day simple moving average is $208.49.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.43 by $0.16. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 EPS. As a group, research analysts expect that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International declared that its board has initiated a share repurchase 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 reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRL shares. TD Cowen dropped their price target on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a report on Monday, August 12th. Redburn Atlantic started coverage on Charles River Laboratories International in a report on Monday, October 14th. They issued a “sell” rating and a $151.00 price target for the company. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, CLSA raised shares of Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price target for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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).