Charles River Laboratories International (NYSE:CRL – Get Free Report) released its earnings results on Wednesday. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16, Briefing.com reports. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. During the same period in the previous year, the firm earned $2.72 earnings per share. Charles River Laboratories International’s revenue was down 1.6% compared to the same quarter last year. Charles River Laboratories International updated its FY 2024 guidance to 10.100-10.300 EPS.
Charles River Laboratories International Stock Down 1.8 %
Shares of NYSE:CRL traded down $3.91 during trading on Thursday, hitting $210.29. The company’s stock had a trading volume of 845,105 shares, compared to its average volume of 615,945. Charles River Laboratories International has a fifty-two week low of $166.87 and a fifty-two week high of $275.00. The stock’s 50-day moving average price is $193.34 and its two-hundred day moving average price is $208.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The company has a market capitalization of $10.86 billion, a PE ratio of 25.35, a PEG ratio of 6.25 and a beta of 1.38.
Charles River Laboratories International declared that its board has approved a stock buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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).
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