Zacks: Analysts Expect Charles River Laboratories Intl. Inc (NYSE:CRL) Will Post Quarterly Sales of $677.99 Million

Equities analysts expect Charles River Laboratories Intl. Inc (NYSE:CRL) to post sales of $677.99 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Charles River Laboratories Intl.’s earnings. The lowest sales estimate is $675.10 million and the highest is $681.20 million. Charles River Laboratories Intl. posted sales of $585.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.8%. The business is scheduled to announce its next earnings results on Wednesday, November 6th.

On average, analysts expect that Charles River Laboratories Intl. will report full year sales of $2.64 billion for the current financial year, with estimates ranging from $2.63 billion to $2.65 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.90 billion, with estimates ranging from $2.87 billion to $2.92 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Charles River Laboratories Intl..

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.08. Charles River Laboratories Intl. had a net margin of 8.94% and a return on equity of 22.01%. The firm had revenue of $657.60 million during the quarter, compared to analysts’ expectations of $662.61 million. During the same quarter in the prior year, the company earned $1.62 EPS. The company’s revenue was up 12.4% compared to the same quarter last year.

Several brokerages have recently weighed in on CRL. Zacks Investment Research cut shares of Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Svb Leerink began coverage on shares of Charles River Laboratories Intl. in a research report on Monday, June 10th. They issued an “outperform” rating and a $155.00 price target for the company. ValuEngine cut shares of Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Charles River Laboratories Intl. in a research report on Tuesday, April 30th. Finally, Leerink Swann began coverage on shares of Charles River Laboratories Intl. in a research report on Monday, June 10th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Charles River Laboratories Intl. has an average rating of “Buy” and an average price target of $147.29.

In related news, insider David Ross Smith sold 1,249 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $130.36, for a total transaction of $162,819.64. Following the completion of the transaction, the insider now owns 19,327 shares in the company, valued at approximately $2,519,467.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William D. Barbo sold 4,905 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $125.16, for a total transaction of $613,909.80. Following the transaction, the insider now owns 25,859 shares of the company’s stock, valued at approximately $3,236,512.44. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Charles River Laboratories Intl. by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,660,628 shares of the medical research company’s stock valued at $661,344,000 after purchasing an additional 72,827 shares in the last quarter. AQR Capital Management LLC increased its position in Charles River Laboratories Intl. by 7.5% during the second quarter. AQR Capital Management LLC now owns 2,239,921 shares of the medical research company’s stock worth $317,845,000 after purchasing an additional 157,160 shares during the last quarter. Bank of New York Mellon Corp increased its position in Charles River Laboratories Intl. by 49.4% during the second quarter. Bank of New York Mellon Corp now owns 978,183 shares of the medical research company’s stock worth $138,804,000 after purchasing an additional 323,625 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Charles River Laboratories Intl. by 5.1% during the second quarter. TimesSquare Capital Management LLC now owns 907,850 shares of the medical research company’s stock worth $128,824,000 after purchasing an additional 44,275 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Charles River Laboratories Intl. by 5.1% during the second quarter. Bank of America Corp DE now owns 471,966 shares of the medical research company’s stock worth $66,972,000 after purchasing an additional 22,821 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Shares of CRL traded down $1.37 during mid-day trading on Monday, hitting $128.32. The company’s stock had a trading volume of 25,857 shares, compared to its average volume of 346,167. The company’s 50-day moving average is $135.28 and its 200-day moving average is $136.61. Charles River Laboratories Intl. has a 52-week low of $103.00 and a 52-week high of $149.07. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.67 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.38 and a debt-to-equity ratio of 1.47.

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 in 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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