Charles River Laboratories Intl. Inc (CRL) Expected to Post Quarterly Sales of $566.94 Million

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Wall Street brokerages expect that Charles River Laboratories Intl. Inc (NYSE:CRL) will post $566.94 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Charles River Laboratories Intl.’s earnings. The lowest sales estimate is $560.96 million and the highest is $572.60 million. Charles River Laboratories Intl. posted sales of $464.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.1%. The company is expected to issue its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Charles River Laboratories Intl. will report full-year sales of $2.23 billion for the current fiscal year, with estimates ranging from $2.21 billion to $2.24 billion. For the next year, analysts anticipate that the company will post sales of $2.46 billion per share, with estimates ranging from $2.41 billion to $2.48 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Charles River Laboratories Intl..

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Wednesday, August 8th. The medical research company reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.16. Charles River Laboratories Intl. had a net margin of 6.38% and a return on equity of 25.26%. The firm had revenue of $585.30 million for the quarter, compared to analyst estimates of $570.65 million. During the same period last year, the business earned $1.29 EPS. Charles River Laboratories Intl.’s revenue for the quarter was up 24.8% compared to the same quarter last year.

Several equities research analysts recently commented on the stock. Argus lifted their price target on shares of Charles River Laboratories Intl. from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Bank of America lifted their price target on shares of Charles River Laboratories Intl. from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of Charles River Laboratories Intl. from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Friday, May 11th. Raymond James upgraded shares of Charles River Laboratories Intl. from a “market perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Thursday, August 23rd. Finally, ValuEngine upgraded shares of Charles River Laboratories Intl. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $125.40.

NYSE:CRL traded up $0.82 during midday trading on Friday, hitting $126.32. 325,300 shares of the company were exchanged, compared to its average volume of 369,653. Charles River Laboratories Intl. has a fifty-two week low of $96.70 and a fifty-two week high of $130.66. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.72 and a quick ratio of 1.48. The firm has a market capitalization of $5.97 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.57 and a beta of 0.65.

In other Charles River Laboratories Intl. news, COO Davide Molho sold 11,600 shares of Charles River Laboratories Intl. stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $125.00, for a total value of $1,450,000.00. Following the transaction, the chief operating officer now directly owns 22,079 shares in the company, valued at $2,759,875. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Birgit Girshick sold 3,978 shares of Charles River Laboratories Intl. stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $119.90, for a total transaction of $476,962.20. Following the completion of the transaction, the insider now owns 18,999 shares in the company, valued at $2,277,980.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,324 shares of company stock worth $4,504,045. 2.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Charles River Laboratories Intl. by 7.0% in the second quarter. BlackRock Inc. now owns 4,446,965 shares of the medical research company’s stock valued at $499,216,000 after purchasing an additional 292,685 shares during the period. Renaissance Technologies LLC increased its stake in Charles River Laboratories Intl. by 3.8% in the second quarter. Renaissance Technologies LLC now owns 1,515,300 shares of the medical research company’s stock valued at $170,108,000 after purchasing an additional 55,000 shares during the period. Wells Fargo & Company MN increased its stake in Charles River Laboratories Intl. by 5.4% in the second quarter. Wells Fargo & Company MN now owns 1,316,635 shares of the medical research company’s stock valued at $147,806,000 after purchasing an additional 67,439 shares during the period. Brown Advisory Inc. increased its stake in Charles River Laboratories Intl. by 5.4% in the second quarter. Brown Advisory Inc. now owns 702,500 shares of the medical research company’s stock valued at $78,863,000 after purchasing an additional 36,219 shares during the period. Finally, Van Berkom & Associates Inc. increased its stake in Charles River Laboratories Intl. by 0.7% in the second quarter. Van Berkom & Associates Inc. now owns 617,391 shares of the medical research company’s stock valued at $69,308,000 after purchasing an additional 4,250 shares during the period. Institutional investors own 97.76% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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

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