Charles River Laboratories International (NYSE:CRL) Updates FY24 Earnings Guidance

Charles River Laboratories International (NYSE:CRL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $9.90-10.20 for the period, compared to the consensus earnings per share estimate of $10.99. The company issued revenue guidance of decline of 2.5-4.5% to $3.94-4.03 billion, compared to the consensus revenue estimate of $4.22 billion.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Charles River Laboratories International in a research report on Thursday, June 6th. They set a buy rating and a $290.00 target price for the company. Barclays began coverage on Charles River Laboratories International in a research report on Friday, June 28th. They set an equal weight rating and a $230.00 price objective for the company. TD Cowen cut their price target on Charles River Laboratories International from $260.00 to $228.00 and set a hold rating for the company in a report on Monday, May 13th. Mizuho assumed coverage on shares of Charles River Laboratories International in a report on Friday, June 7th. They issued a neutral rating and a $235.00 target price on the stock. Finally, StockNews.com downgraded shares of Charles River Laboratories International from a buy rating to a hold rating in a report on Friday, June 14th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $252.29.

Charles River Laboratories International Stock Down 13.1 %

Shares of CRL traded down $30.03 during mid-day trading on Wednesday, hitting $198.77. The company’s stock had a trading volume of 1,084,355 shares, compared to its average volume of 547,608. The company’s 50-day moving average is $215.54 and its 200-day moving average is $231.69. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.32 and a beta of 1.38. Charles River Laboratories International has a 52-week low of $161.65 and a 52-week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts forecast that Charles River Laboratories International will post 10.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 1,304 shares of the company’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 transaction, the executive vice president now directly owns 23,276 shares of the company’s stock, valued at approximately $5,282,953.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% 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).