Research Analysts Issue Forecasts for Charles River Laboratories International, Inc.’s FY2023 Earnings (NYSE:CRL)

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) – Research analysts at Zacks Research cut their FY2023 earnings per share estimates for shares of Charles River Laboratories International in a research report issued to clients and investors on Tuesday, September 20th. Zacks Research analyst U. Biswas now expects that the medical research company will post earnings of $12.92 per share for the year, down from their previous forecast of $13.00. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.76 per share. Zacks Research also issued estimates for Charles River Laboratories International’s Q2 2024 earnings at $3.91 EPS.

Charles River Laboratories International (NYSE:CRLGet Rating) last posted its earnings results on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.03. The company had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $995.12 million. Charles River Laboratories International had a net margin of 12.02% and a return on equity of 21.51%. Charles River Laboratories International’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.61 earnings per share.

CRL has been the subject of a number of other reports. Evercore ISI dropped their target price on shares of Charles River Laboratories International to $260.00 in a research note on Tuesday, August 9th. Wells Fargo & Company lowered their target price on Charles River Laboratories International from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Charles River Laboratories International from $290.00 to $270.00 in a research report on Monday, August 8th. Citigroup lowered their price objective on Charles River Laboratories International to $280.00 in a research report on Tuesday, August 9th. Finally, Stephens set a $315.00 target price on shares of Charles River Laboratories International in a research report on Monday, June 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.67.

Charles River Laboratories International Trading Down 3.1 %

Shares of CRL opened at $184.83 on Thursday. Charles River Laboratories International has a 52-week low of $183.23 and a 52-week high of $460.21. The stock has a fifty day moving average price of $217.84 and a two-hundred day moving average price of $237.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.08 and a current ratio of 1.33. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.29 and a beta of 1.35.

Insiders Place Their Bets

In other news, EVP Joseph W. Laplume sold 200 shares of Charles River Laboratories International stock in a transaction on Friday, August 5th. The shares were sold at an average price of $226.13, for a total transaction of $45,226.00. Following the transaction, the executive vice president now directly owns 20,766 shares of the company’s stock, valued at $4,695,815.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Charles River Laboratories International by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 924,738 shares of the medical research company’s stock valued at $347,506,000 after buying an additional 13,586 shares in the last quarter. American International Group Inc. increased its stake in Charles River Laboratories International by 0.3% in the 4th quarter. American International Group Inc. now owns 15,790 shares of the medical research company’s stock valued at $5,949,000 after buying an additional 42 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new stake in shares of Charles River Laboratories International in the fourth quarter valued at about $40,000. Nissay Asset Management Corp Japan ADV lifted its stake in Charles River Laboratories International by 2.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,461 shares of the medical research company’s stock valued at $2,058,000 after acquiring an additional 107 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Charles River Laboratories International by 8.3% in the 4th quarter. Nuveen Asset Management LLC now owns 273,361 shares of the medical research company’s stock valued at $102,997,000 after purchasing an additional 21,013 shares during the period. Institutional investors own 95.20% of the company’s stock.

About Charles River Laboratories International

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Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).

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Earnings History and Estimates for Charles River Laboratories International (NYSE:CRL)

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