Charles River Laboratories International (NYSE:CRL) Issues FY 2024 Earnings Guidance

Charles River Laboratories International (NYSE:CRL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.900-11.400 for the period, compared to the consensus EPS estimate of 11.020. The company issued revenue guidance of $4.2 billion-$4.3 billion, compared to the consensus revenue estimate of $4.2 billion. Charles River Laboratories International also updated its FY24 guidance to $10.90-11.40 EPS.

Analysts Set New Price Targets

A number of research firms have recently commented on CRL. TheStreet upgraded Charles River Laboratories International from a c+ rating to a b- rating in a research report on Friday, March 1st. Argus boosted their price objective on Charles River Laboratories International from $240.00 to $290.00 and gave the company a buy rating in a research note on Monday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Charles River Laboratories International from $270.00 to $280.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Citigroup upped their price target on shares of Charles River Laboratories International from $215.00 to $250.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, Evercore ISI raised their price target on Charles River Laboratories International from $260.00 to $265.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $253.23.

Charles River Laboratories International Price Performance

CRL traded down $0.84 on Thursday, hitting $234.45. 151,078 shares of the company were exchanged, compared to its average volume of 538,785. The business’s fifty day moving average is $251.18 and its 200 day moving average is $225.24. Charles River Laboratories International has a fifty-two week low of $161.65 and a fifty-two week high of $275.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.16 and a current ratio of 1.52. The firm has a market capitalization of $12.08 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. Charles River Laboratories International had a net margin of 11.49% and a return on equity of 16.53%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $991.25 million. During the same quarter in the prior year, the firm posted $2.98 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles River Laboratories International will post 11.01 EPS for the current year.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Shannon M. Parisotto sold 5,882 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $241.20, for a total transaction of $1,418,738.40. Following the transaction, the executive vice president now owns 2,596 shares of the company’s stock, valued at $626,155.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Victoria L. Creamer sold 5,000 shares of Charles River Laboratories International stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $253.70, for a total value of $1,268,500.00. Following the completion of the sale, the executive vice president now owns 13,550 shares in the company, valued at $3,437,635. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Shannon M. Parisotto sold 5,882 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $241.20, for a total value of $1,418,738.40. Following the completion of the sale, the executive vice president now directly owns 2,596 shares of the company’s stock, valued at $626,155.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,932 shares of company stock valued at $3,693,663. 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).