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

Charles River Laboratories International (NYSE:CRL) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 10.100-10.300 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRL shares. Redburn Atlantic began coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 price objective for the company. Evercore ISI lowered shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and cut their price target for the stock from $225.00 to $190.00 in a research note on Monday, October 7th. The Goldman Sachs Group dropped 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 report on Thursday, August 8th. 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 report on Thursday, August 8th. Finally, CLSA initiated coverage on Charles River Laboratories International in a research note on Wednesday, October 23rd. They issued an “underperform” rating and a $167.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Charles River Laboratories International presently has a consensus rating of “Hold” and a consensus target price of $209.00.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $188.90 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The firm has a market cap of $9.75 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 6.20 and a beta of 1.38. Charles River Laboratories International has a 12-month low of $166.87 and a 12-month high of $275.00. The company’s 50 day simple moving average is $192.99 and its 200-day simple moving average is $208.56.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. As a group, equities analysts predict that Charles River Laboratories International will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is 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).