Zacks Research Has Negative Estimate for CRL Q3 Earnings

Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) - Zacks Research decreased their Q3 2024 earnings per share estimates for Charles River Laboratories International in a report released on Thursday, October 17th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $2.43 per share for the quarter, down from their prior estimate of $2.44. The consensus estimate for Charles River Laboratories International's current full-year earnings is $10.01 per share. Zacks Research also issued estimates for Charles River Laboratories International's Q3 2026 earnings at $3.03 EPS.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion.

Several other analysts have also issued reports on the company. TD Cowen cut 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. Robert W. Baird cut their price target on Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Citigroup lowered Charles River Laboratories International from a "neutral" rating to a "sell" rating and cut their price target for the company from $215.00 to $175.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered Charles River Laboratories International from an "overweight" rating to a "neutral" rating and cut their price target for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Finally, Baird R W lowered Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of "Hold" and an average target price of $212.23.

Charles River Laboratories International Stock Performance

Shares of CRL traded down $0.01 during trading hours on Friday, hitting $197.77. The stock had a trading volume of 700,667 shares, compared to its average volume of 596,940. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International has a 12 month low of $161.65 and a 12 month high of $275.00. The firm has a market capitalization of $10.19 billion, a PE ratio of 23.27, a PEG ratio of 5.11 and a beta of 1.36. The stock has a fifty day moving average price of $197.20 and a 200 day moving average price of $214.06.

Charles River Laboratories International declared that its Board of Directors has initiated a stock repurchase program 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 buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Tortoise Investment Management LLC grew its stake in Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company's stock worth $27,000 after purchasing an additional 57 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in Charles River Laboratories International in the third quarter worth approximately $32,000. Headlands Technologies LLC bought a new position in Charles River Laboratories International in the first quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. grew its stake in Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company's stock worth $58,000 after purchasing an additional 193 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company's stock worth $70,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 98.91% of the company's stock.

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).