Charles River Laboratories International (NYSE:CRL) Updates 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 earnings per share guidance of 10.900-11.400 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird raised their target price on Charles River Laboratories International from $252.00 to $268.00 and gave the company an outperform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on shares of Charles River Laboratories International from $270.00 to $280.00 and gave the company an overweight rating in a research report on Thursday, February 15th. UBS Group upped their price objective on shares of Charles River Laboratories International from $270.00 to $290.00 and gave the stock a buy rating in a report on Thursday, February 15th. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $260.00 to $265.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Finally, Guggenheim cut shares of Charles River Laboratories International from a buy rating to a neutral rating in a report on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of Moderate Buy and an average target price of $253.23.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock traded down $0.84 during mid-day trading on Thursday, reaching $234.45. 151,078 shares of the stock traded hands, compared to its average volume of 538,785. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00. The stock has a market capitalization of $12.08 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.52 and a quick ratio of 1.16. The business’s 50-day moving average is $251.18 and its 200-day moving average is $225.24.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results 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. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $991.25 million. Charles River Laboratories International had a net margin of 11.49% and a return on equity of 16.53%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.98 earnings per share. As a group, sell-side analysts predict that Charles River Laboratories International will post 11.01 EPS for the current fiscal year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, VP William D. Barbo sold 4,050 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $248.50, for a total transaction of $1,006,425.00. Following the completion of the transaction, the vice president now owns 22,879 shares of the company’s stock, valued at approximately $5,685,431.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP William D. Barbo sold 4,050 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $248.50, for a total transaction of $1,006,425.00. Following the completion of the transaction, the vice president now directly owns 22,879 shares in the company, valued at approximately $5,685,431.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Victoria L. Creamer sold 5,000 shares of the business’s stock in a transaction 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 approximately $3,437,635. The disclosure for this sale can be found here. Insiders sold a total of 14,932 shares of company stock valued at $3,693,663 in the last three months. 1.30% of the stock is currently owned by corporate 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).