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

Charles River Laboratories International (NYSE:CRL) is set to announce its earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce 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 participating in the company’s conference call can do so using this link.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. On average, analysts expect Charles River Laboratories International to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Charles River Laboratories International Price Performance

Shares of CRL stock opened at $180.96 on Monday. Charles River Laboratories International has a 52 week low of $166.87 and a 52 week high of $275.00. The stock has a market capitalization of $9.34 billion, a PE ratio of 21.67, a PEG ratio of 6.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The stock’s fifty day moving average is $193.72 and its 200-day moving average is $209.29.

Charles River Laboratories International declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRL shares. CLSA initiated coverage on shares of Charles River Laboratories International in a research report on Wednesday, October 23rd. They issued an “underperform” rating and a $167.00 price objective for the company. UBS Group dropped their price objective on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI downgraded Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $225.00 to $190.00 in a research report on Monday, October 7th. Finally, Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and an average 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).