Charles River Laboratories International (NYSE:CRL) Releases Earnings Results, Beats Expectations By $0.16 EPS

Charles River Laboratories International (NYSE:CRL) issued its quarterly earnings data on Wednesday. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.16, Briefing.com reports. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Charles River Laboratories International’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. Charles River Laboratories International updated its FY 2024 guidance to 10.100-10.300 EPS.

Charles River Laboratories International Trading Down 1.8 %

Shares of CRL stock traded down $3.91 on Thursday, reaching $210.29. 852,717 shares of the stock were exchanged, compared to its average volume of 615,945. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The stock has a market cap of $10.86 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 6.25 and a beta of 1.38. The firm has a 50 day moving average of $193.34 and a two-hundred day moving average of $208.60. Charles River Laboratories International has a 1-year low of $166.87 and a 1-year high of $275.00.

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CRL. CLSA raised Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price target for the company in a research note on Thursday. TD Cowen reduced their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. StockNews.com raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird reduced their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, The Goldman Sachs Group cut their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $214.93.

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).