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

Charles River Laboratories International (NYSE:CRL) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $10.90-11.40 for the period, compared to the consensus estimate of $11.03. The company issued revenue guidance of ~$4.17-4.29 billion, compared to the consensus revenue estimate of $4.22 billion.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $235.34 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73. The company has a market cap of $12.12 billion, a PE ratio of 25.55, a P/E/G ratio of 1.83 and a beta of 1.44. The company’s fifty day simple moving average is $251.18 and its 200-day simple moving average is $225.24. 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 announced its earnings results on Wednesday, February 14th. The medical research company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.39 by $0.07. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $991.25 million. Charles River Laboratories International had a return on equity of 16.53% and a net margin of 11.49%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the business posted $2.98 EPS. As a group, equities research analysts anticipate that Charles River Laboratories International will post 11.01 EPS for the current year.

Analysts Set New Price Targets

CRL has been the subject of a number of analyst reports. Guggenheim downgraded Charles River Laboratories International from a buy rating to a neutral rating in a report on Thursday, February 15th. Argus raised their price target on shares of Charles River Laboratories International from $240.00 to $290.00 and gave the stock a buy rating in a research report on Monday, March 18th. TheStreet upgraded shares of Charles River Laboratories International from a c+ rating to a b- rating in a research note on Friday, March 1st. UBS Group boosted their target price on shares of Charles River Laboratories International from $270.00 to $290.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, Citigroup lifted their price target on Charles River Laboratories International from $215.00 to $250.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $253.23.

Insider Buying and Selling

In related news, EVP Shannon M. Parisotto sold 5,882 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $241.20, for a total transaction of $1,418,738.40. Following the sale, the executive vice president now owns 2,596 shares of the company’s stock, valued at $626,155.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Charles River Laboratories International news, EVP Shannon M. Parisotto sold 5,882 shares of the company’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 approximately $626,155.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Victoria L. Creamer sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $253.70, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 14,932 shares of company stock valued at $3,693,663 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

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).