William Blair Analysts Reduce Earnings Estimates for CRL

Charles River Laboratories International, Inc. (NYSE:CRL) – William Blair decreased their Q4 2024 earnings estimates for Charles River Laboratories International in a report issued on Thursday, November 7th. William Blair analyst M. Smock now anticipates that the medical research company will post earnings per share of $2.46 for the quarter, down from their prior forecast of $2.57. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.18 per share. William Blair also issued estimates for Charles River Laboratories International’s Q1 2025 earnings at $2.41 EPS, Q4 2025 earnings at $2.85 EPS and FY2025 earnings at $10.59 EPS.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same period last year, the firm earned $2.72 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis.

A number of other research firms also recently issued reports on CRL. UBS Group raised their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Barclays reduced their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Citigroup downgraded shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. TD Cowen reduced their target price on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $270.00 to $205.00 in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $215.69.

Charles River Laboratories International Stock Performance

NYSE CRL opened at $215.39 on Monday. Charles River Laboratories International has a 52-week low of $166.87 and a 52-week high of $275.00. The company has a 50-day simple moving average of $193.91 and a 200 day simple moving average of $208.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.21 and a current ratio of 1.48. The company has a market capitalization of $11.01 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 7.22 and a beta of 1.38.

Institutional Investors Weigh In On Charles River Laboratories International

Several hedge funds have recently bought and sold shares of CRL. Tortoise Investment Management LLC lifted its position in Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 57 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Charles River Laboratories International in the 3rd quarter worth approximately $32,000. Assetmark Inc. lifted its holdings in shares of Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after acquiring an additional 173 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $41,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International announced that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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).