Zacks Research Has Weak Forecast for CRL FY2024 Earnings

Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) - Zacks Research reduced their FY2024 earnings estimates for Charles River Laboratories International in a research note issued on Tuesday, October 29th. Zacks Research analyst R. Department now expects that the medical research company will earn $10.00 per share for the year, down from their previous forecast of $10.05. 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 Q4 2024 earnings at $2.50 EPS, Q1 2025 earnings at $2.44 EPS, Q2 2025 earnings at $2.56 EPS, Q3 2025 earnings at $2.62 EPS, Q4 2025 earnings at $2.68 EPS, FY2025 earnings at $10.30 EPS, Q1 2026 earnings at $2.79 EPS, Q2 2026 earnings at $2.88 EPS, Q3 2026 earnings at $2.91 EPS and FY2026 earnings at $11.78 EPS.

A number of other equities analysts also recently issued reports on the stock. StockNews.com raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Bank of America cut 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 note on Wednesday, October 2nd. Evercore ISI cut Charles River Laboratories International from an "outperform" rating to an "inline" rating and lowered their price objective for the company from $225.00 to $190.00 in a research note on Monday, October 7th. Baird R W cut Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, Barclays decreased their price target on Charles River Laboratories International from $230.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $209.00.

Charles River Laboratories International Trading Down 1.5 %

Shares of NYSE:CRL traded down $2.81 during mid-day trading on Thursday, hitting $178.58. The company had a trading volume of 1,015,346 shares, compared to its average volume of 604,548. The firm has a fifty day moving average price of $194.66 and a 200 day moving average price of $210.05. The company has a market capitalization of $9.22 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. 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 one year low of $161.65 and a one year high of $275.00.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion.

Institutional Trading of Charles River Laboratories International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Trust Walden Corp increased its stake in Charles River Laboratories International by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company's stock worth $41,381,000 after acquiring an additional 5,375 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Charles River Laboratories International by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company's stock worth $15,401,000 after acquiring an additional 2,739 shares during the last quarter. Natixis bought a new stake in Charles River Laboratories International in the 1st quarter worth approximately $1,058,000. Tidal Investments LLC increased its stake in Charles River Laboratories International by 99.8% in the 1st quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company's stock worth $1,435,000 after acquiring an additional 2,646 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Charles River Laboratories International by 2,733.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company's stock worth $67,060,000 after acquiring an additional 238,766 shares during the last quarter. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International announced that its board has initiated a share buyback 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 often an indication that the company's board of directors believes its stock is undervalued.

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).