Charles River Laboratories International (NYSE:CRL) Issues FY 2024 Earnings Guidance

Charles River Laboratories International (NYSE:CRL - Get Free Report) 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.

Charles River Laboratories International Price Performance

Shares of CRL traded down $5.18 during midday trading on Thursday, hitting $230.11. 1,004,419 shares of the company traded hands, compared to its average volume of 548,995. Charles River Laboratories International has a one year low of $161.65 and a one year high of $275.00. The firm has a market cap of $11.85 billion, a P/E ratio of 25.55, a PEG 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 stock has a 50-day moving average of $251.18 and a 200-day moving average of $225.24.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, February 14th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.07. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $991.25 million. Charles River Laboratories International had a net margin of 11.49% and a return on equity of 16.53%. The business's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.98 EPS. As a group, sell-side analysts predict that Charles River Laboratories International will post 11.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Charles River Laboratories International from $252.00 to $268.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Evercore ISI upped 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 research report on Thursday, February 15th. Guggenheim downgraded Charles River Laboratories International from a buy rating to a neutral rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price objective on Charles River Laboratories International from $270.00 to $280.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Finally, UBS Group raised their price objective on Charles River Laboratories International from $270.00 to $290.00 and gave the company a buy 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $253.23.

Insider Buying and Selling

In related news, EVP Shannon M. Parisotto sold 5,882 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $241.20, for a total value of $1,418,738.40. Following the sale, the executive vice president now directly owns 2,596 shares of the company's stock, valued at $626,155.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles River Laboratories International news, EVP Shannon M. Parisotto sold 5,882 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $241.20, for a total transaction of $1,418,738.40. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, VP William D. Barbo sold 4,050 shares of the firm's stock in a transaction dated 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 sale, the vice president now directly owns 22,879 shares of the company's stock, valued at $5,685,431.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,932 shares of company stock valued at $3,693,663 over the last three months. 1.30% of the stock is owned by company insiders.

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).