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. The company provided EPS guidance of 9.900-10.200 for the period, compared to the consensus EPS estimate of 10.990. The company issued revenue guidance of $3.9 billion-$4.0 billion, compared to the consensus revenue estimate of $4.2 billion. Charles River Laboratories International also updated its FY24 guidance to $9.90-10.20 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Charles River Laboratories International in a research report on Thursday, June 6th. They issued a buy rating and a $290.00 price target for the company. TD Cowen dropped their price objective on Charles River Laboratories International from $260.00 to $228.00 and set a hold rating on the stock in a report on Monday, May 13th. StockNews.com downgraded Charles River Laboratories International from a buy rating to a hold rating in a report on Friday, June 14th. Mizuho assumed coverage on Charles River Laboratories International in a report on Friday, June 7th. They issued a neutral rating and a $235.00 price objective on the stock. Finally, Argus restated a hold rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of Hold and an average target price of $252.29.

Charles River Laboratories International Stock Performance

Shares of CRL traded down $29.80 during mid-day trading on Wednesday, hitting $199.00. The company’s stock had a trading volume of 2,688,377 shares, compared to its average volume of 558,230. Charles River Laboratories International has a one year low of $161.65 and a one year high of $275.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a market capitalization of $10.25 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. The stock’s 50-day moving average is $215.54 and its two-hundred day moving average is $231.69.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Thursday, May 9th. The medical research company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.05 by $0.22. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $997.24 million. Charles River Laboratories International had a return on equity of 15.16% and a net margin of 10.81%. As a group, sell-side analysts anticipate that Charles River Laboratories International will post 10.99 EPS for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 1,304 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $226.97, for a total value of $295,968.88. Following the completion of the sale, the executive vice president now directly owns 23,276 shares in the company, valued at $5,282,953.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

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).