Charles River Laboratories International (CRL) to Release Earnings on Wednesday

Charles River Laboratories International (NYSE:CRL) is scheduled to post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Charles River Laboratories International to post earnings of $2.43 per share for the quarter. Charles River Laboratories International has set its FY24 guidance at $9.90-10.20 EPS and its FY 2024 guidance at 9.900-10.200 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Charles River Laboratories International (NYSE:CRL) last released its earnings results 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 return on equity of 14.96% and a net margin of 10.83%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. On average, analysts expect Charles River Laboratories International to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $184.00 on Wednesday. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 5.11 and a beta of 1.36. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $195.12 and its 200-day simple moving average is $210.25.

Charles River Laboratories International declared that its board has authorized a stock buyback plan on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CRL has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 target price for the company. Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and decreased their target price for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. UBS Group dropped their price target on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, CLSA initiated coverage on Charles River Laboratories International in a research report on Wednesday, October 23rd. They set an “underperform” rating and a $167.00 price objective for the company. Three 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $209.00.

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).