Zacks Research Has Pessimistic Outlook of CRL Q3 Earnings

Charles River Laboratories International, Inc. (NYSE:CRL) – Equities research analysts at Zacks Research lowered their Q3 2024 EPS estimates for shares of Charles River Laboratories International in a report issued on Thursday, October 17th. Zacks Research analyst R. Department now expects that the medical research company will post earnings per share of $2.43 for the quarter, down from their prior forecast of $2.44. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.01 per share. Zacks Research also issued estimates for Charles River Laboratories International’s Q3 2026 earnings at $3.03 EPS.

A number of other research analysts have also weighed in on the company. Robert W. Baird reduced their price target 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. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Evercore ISI downgraded shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $225.00 to $190.00 in a research note on Monday, October 7th. UBS Group decreased their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $212.23.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $197.77 on Friday. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The firm has a 50 day simple moving average of $197.20 and a 200-day simple moving average of $214.06. The firm has a market cap of $10.19 billion, a PE ratio of 23.27, a P/E/G ratio of 5.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%.

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

Institutional Investors Weigh In On Charles River Laboratories International

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Charles River Laboratories International by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock valued at $1,638,290,000 after buying an additional 66,161 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Charles River Laboratories International by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after purchasing an additional 31,359 shares during the last quarter. Clearbridge Investments LLC grew its stake in Charles River Laboratories International by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after purchasing an additional 45,079 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Charles River Laboratories International by 11.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock valued at $258,559,000 after purchasing an additional 132,802 shares in the last quarter. Finally, Meritage Group LP raised its position in shares of Charles River Laboratories International by 2.3% in the 1st quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after purchasing an additional 26,892 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

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).